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Sensex closes above 13,000 mark
Published on Mon, Oct 30, 2006 at 10:32, Updated on Mon, Oct 30, 2006 at 16:43 in 
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Sensex Historical Gains |
 1000 mark, July 25, 1990 |
| 2000 mark, January 15, 1992 |
| 3000 mark, February 29, 1992 |
| 4000 mark, March 30, 1992 |
| 5000 mark, October 8, 1999 |
| 6000 mark, February 11, 2000 |
| 7000 mark, June 20, 2005 |
| 8000 mark, September 8, 2005 |
| 9000 mark, November 28, 2005 |
| 10,000 mark, February 7, 2006 |
| 11,000 mark, March 27, 2006 |
| 12,000 mark, April 20, 2006 |
Mumbai: The Bombay Stock Exchange benchmark index, Sensex, touched its highest level at 13,002.86 in afternoon trade on the back of heavy buying led by FIIs and mutual funds on Monday.
The Sensex closed at 13,024.26 up 117.45 points or 0.9 per cent. Markets had crossed the 10k level on Feburary 6 this year.
The opening day of the week marked a big feat for the stock markets. Analysts and traders were expecting Sensex to hit the psychological 13K level earlier last week. But after retracing a bit at the 12,900 levels, markets finally crossed the psychological 13,000 mark on Monday.
With markets touching a historical high, India Inc has proved its potential once again. FII money is flowing into the markets and company results have been good. Infosys recorded a net profit of Rs 794 crore earlier this month and an overall growth of over 9.1 per cent as compared to the previous quarter. Also, Wipro showed net profit rise by 12.83 per cent at Rs 700 crore as the company declared its Q2 results for the FY07.
"The 8 per cent GDP growth rate and the remarkable corporate performance has contributed to the rally in the stock markets," Rakesh Jain, analysts and CEO of Pranav Securities, said.
The analysts say there is enough headroom in the markets for further gain. However, they expect heavy profit-booking to take place as the Sensex touches record highs in the coming months.
"Corporate performance would continue to strengthen and markets can look for further gains in the next six months at least. By next year, we may expect the markets to touch the 14K level as well," Jain added.
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