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Last Updated: Monday, 30 October 2006, 10:43 GMT
India's Sensex breaks 13,000 mark
Bombay Stock Broker
Indian shares have bounced back after sharp falls in May and June
India's main stock index, the Sensex, has broken the 13,000 milestone and reached its best-ever finish on Monday.

At close in Mumbai the 30-share index reached 13,024.26 - a gain of 117.45 points, or 0.91%, on last week's close.

Shares were boosted by solid earnings from several key banks and technology firms, but analysts said investors may now take profits.

The index has now risen 36% in 2006, and has shrugged off a sharp slide in June to below 9,000.

'Beyond expectations'

"Corporate earnings growth has been beyond expectations," said Krishna Kumar Karwa, managing director with Emkay Shares and Stock Brokers.

The Sensex, which reached a previous best of 12,994 points on 17 October, was boosted on Monday by aggressive buying by funds of stock in Infosys Technologies.

The record level comes ahead of a Reserve Bank of India review of interest rates.

The bank is expected to keep a key short-term rate unchanged.

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