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Last Updated: Thursday, 20 April 2006, 16:11 GMT 17:11 UK
Indian shares break past 12,000
Stockbrokers in Mumbai
Stocks in petrochemicals and metals firms have fuelled the surge
India's main stock market has passed another major milestone, breaching the 12,000 mark for the first time ever.

It comes a month after Indian shares broke through the 11,000 barrier, and on the back of strong economic growth and overseas investment in India.

The benchmark Sensex closed at a record high of 12,039.76 points, up 143.78 points or 1.21% on the previous close.

The Indian stock markets have touched one record high after another since last year.

'Bull run'

As well as foreign investors, stock market purchases by Indian investment funds and individual investors have also steadily increased.

The Sensex surge was led by heavy buying in petrochemical major Reliance after reports that it had struck new oil reserves in the Krishna-Godavari basin in western India.

Other metal stocks such as Tata Steel and Hindustan Zinc also did well and helped sustain the climb.

Krishna Kumar Karwa, managing director of stock broking firm Emkay, said: "This time around, it is the individual investor who is buying in the market because if you look at the numbers, foreign and domestic fund buying has not been very strong lately.

"They are trying to make the best of the bull run while it lasts."




SEE ALSO:
Indian shares power past 11,000
21 Mar 06 |  Business
Indian shares hit historic high
06 Feb 06 |  Business
Indian stocks surge to new high
13 Dec 05 |  South Asia
Why India's stock markets are rising
20 Dec 05 |  South Asia


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