Log in to your IBTimes Account

close
ID
Password

ICICI Bank drives Indian shares to record high



By Devidutta Tripathy
07 January 2008 @ 7:07 pm IST


A road sign stands next to the Bombay Stock Exchange building (R)
A road sign stands next to the Bombay Stock Exchange building (R), August 3, 2005. (Photo: Reuters)
1 of 1

advertisement

Reliance Energy ended 2.9 percent up at a record close of Rs.2,584.15. Reliance Communications, which is also part of the Anil Dhirubhai Ambani Group, added 4 percent to Rs.790.05, its highest close in more than two months.

Software services stocks, which get more than half of their revenue from the U.S., were down on fears that a recession in the world's biggest economy would lead to a cut in companies' spending on information technology infrastructure.

Infosys Technologies, which reports quarterly results on Friday, fell 3.4 percent to its lowest close since Dec. 19, and sector leader Tata Consultancy Services lost 2.9 percent to its lowest close since late November.

In the broader market, 1,564 gainers beat 1,341 losers on volume of nearly 757 million shares.

The 50-share NSE index edged up 0.08 percent to 6,279.10. It had hit a record high of 6,300.05 on Friday.

Elsewhere, Karachi's 100-share index fell 0.67 percent to 14,163.40, while Colombo's All Share index fell 0.87 percent to 2,488.55, its lowest close since late August.

This article is copyrighted by Reuters.

    Click!
  • Rate this article:

Comments

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Market News
A top U.S. official on Monday urged India and other large emerging economies to rescue the eight-year-old Doha round of world trade talks by making bette...
India will take gradual steps to full convertibility of the rupee but not in one go, Finance Minister Pranab Mukherjee told parliament on Friday.
Private equity investments in India's logistics services sector are set to rise as it gears up to improve transportation - with costs among the most proh...

advertisement
 
IBTimes.co.in Web
 
International Business Times© 2010 The Ibtimes Company. All Rights Reserved. Partners