Sensex tests 18,000-mark, ends 29 points up


Sensex tests 18,000-mark, ends 29 points up
Mumbai: Stock market benchmark Sensex today tested the 18,000 level after a gap of over two years, but ended flat amid mixed global cues. The Bombay Stock Exchange's 30-share Sensex gained 28.65 points, or 0.16 percent to end the day at 17,970.02 points. During trade, the index touched 18,047.86 points, the highest level in more than 25 months. The last time Sensex was at this level was on February 27, 2008. The chart showing the 52 week performance of Sensex is on the left. The market has been posting gains for the past four sessions on expectations of strong earnings by corporate, who will start reporting quarterly numbers beginning next week. But analysts said the valuations were high as the index has moved up quite fast so far in 2010. The National Stock Exchange's 50-share Nifty ended with a rise of 0.16 percent to 5,374.65 points. The market sentiment was positive in early trade but the index saw heavy profit booking towards the mid-session, which analysts said was on account of weak European markets. The gain in today's market was helped by the buying in the scrip of heavyweight Reliance Industries which rose 0.70 percent. Also telecom major Bharti Airtel gained 1.41 percent and diversified firm ITC which moved up 1.30 percent.