Sensex hits record high in Muhurat trading

MUMBAI Sun Nov 3, 2013 8:03pm IST

Businessmen offer prayers to Hindu gods in front of their laptops as part of a ritual to worship the Hindu deity of wealth Goddess Lakshmi on Diwali, the Indian festival of lights, in Ahmedabad November 3, 2013. REUTERS/Amit Dave

Businessmen offer prayers to Hindu gods in front of their laptops as part of a ritual to worship the Hindu deity of wealth Goddess Lakshmi on Diwali, the Indian festival of lights, in Ahmedabad November 3, 2013.

Credit: Reuters/Amit Dave

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MUMBAI (Reuters) - The BSE Sensex rose to a second consecutive record high in a special trading session on Sunday, led by gains in Indian Bank, Tata Motors and ONGC on expectations of better quarterly earnings, while strong foreign flows continued to boost sentiment.

Stock markets opened for a special 90-minute Muhurat session to mark the festival of Diwali, considered an auspicious time for Indians.

The Sensex has been propelled by foreign inflows of around $3.5 billion since the Federal Reserve unexpectedly delayed tapering of its monetary stimulus.

The index rose to a record high of 21,321.53, surpassing the previous all-time high set just on Friday. It closed up 0.2 percent.

Hindustan Petroleum Corporation Ltd (HPCL.NS) and Indian Oil Corp (IOC.NS) rose 3-4 percent while banking stocks Corporation Bank (CRBK.NS), Dena Bank (DENA.NS) and Indian Bank (INBA.NS) rose 2.6-15 percent.

(Reporting by Swati Pandey; Editing by Robin Pomeroy)

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Comments (1)
sihankarak wrote:
In 2007-2008, the currency conversion ratio between INR/USD was +/-40.
Today the same is >60.
With SENSEX touching its all-time high, the UPA government, led by Congress might be showcasing their achievement that the economy is performing at its best but the reality is that during these last 5 years, the value of INR has become half.

Nov 04, 2013 12:15pm IST  --  Report as abuse
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