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Sensex tops 12,000 on Reliance, Infosys

May 4, 2009

The BSE Sensex closed 6.4 percent higher on Monday, its biggest one-day gain in six months, boosted by encouraging manufacturing data at home and renewed investor activity across Asia.
INDIA-STOCKS/The benchmark closed 731.5 points higher at 12,134.75, while the Nifty ended 5.1 percent higher at 3654.

The rise in the Sensex was led by Reliance Industries, Infosys and ICICI Bank.

On the sectoral front, the BSE Metal Index gained nearly 8.7 percent. This was followed by the IT Index which ended up 8.4 percent. All sectoral indices closed the day in the green.

In today’s trade, FIIs bought net $68.3 million in India shares and $32.8 million in debt.

Manufacturing, which constitutes approximately 16 percent of the GDP, has seen some revival mainly due to the surge in new orders. Data showed the new orders index rose to 54.9 from 49.5 in March.

Investors today cheered the rise in PMI, which points to a marginal recovery in economic activity.

Do you think the recent economic development across the globe has the potential of taking the Sensex to 13,000 levels?

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