Sensex takes 3 milestones into stride in Oct

Written by Agencies | Mumbai, October 29: | Updated: Oct 29 2007, 22:19pm hrs
October would go in history as the only month to have seen the benchmark Sensex scaling three milestones as the index has covered the last 3,000 points journey in just 14 days.

The bellwether index crossed the 20,000 mark during today's session, registering the third-fastest 1,000-point rally of 10 days, on hectic buying from domestic and foreign investors in blue-chips.

The fastest 1,000-point journey was of four trading sessions when the Sensex rallied from 18,000 to 19,000 points between October 9 and October 15. The second-shortest period of six days was witnessed when the index travelled from 16,000 to 17,000 points in September.

The 30-share Bombay Stock Exchange index today gained about 781 points during the day's trade to touch 20,024.87, but closed at 19,977.67.

"Today's rally was driven mainly by a surge in the capital goods, metal and oil & gas segments," a broker said.

Besides, blue-chips including Reliance Industries, Reliance Petroleum, Larsen & Toubro and BHEL gained between 5-10 per cent on the BSE.

The journey between 17,000 to 18,000 had taken eight trading sessions, a rally spanning through 19 days was recorded between the 11,000 to 12,000 in March 2006.

The stride from 14,000 to 15,000 points had taken 143 trading sessions, the longest 1,000-point march since the Sensex touched the five-figure level of 10,000 in February last year. The 15,000 level was reached on July 6.

The index took 143 days to travel from 14K to 15K, 26 days from 13K to 14K, 132 days from 12K to 13K, 19 days from 11K to 12K, 33 days for 10K to 11K, 48 days from 9K to 10K, 54 days from 8K to 9K, 55 days from 7K to 8K, and as many as 1,124 sessions between 6K and 7K.