Posted on: 29-03-06 19:05:01
Sensex Surpasses DowJones.
NEW DELHI/MUMBAI: Dalal Street bulls finally went one up on Wall Street for the first time in more than 11 years. The Sensex surpassed the New York Stock Exchange’s Dow Jones Industrial Average index, closing at an all-time high of 11,183.48 on Wednesday. The Dow closed at 11,154.34 on Tuesday.
On Wednesday, as mutual funds stepped up their buying ahead of the financial year-end to prop up their equity fund NAVs and speculators tried to keep prices at higher levels ahead of the close of March derivative contracts on Thursday, the sensex rallied 97 points to near the 11,200-mark. In contrasting style, on Tuesday, after the new US Fed chairman Ben Barnanke announced the first rate hike of his term, the Dow ended 94 points lower, below the 11,200-mark.
