Mumbai : For the second time in its history, the Sensex breached 25,000-mark but failed to hold above that level on heavy profit-booking and closed with a marginal rise today ahead of swearing-in of Narendra Modi as Prime Minister.
The 30-share BSE index surged 482 points to hit day’s high of 25,175.22 boosted by power, PSU, capital goods, auto and realty stocks. In previous two days, it gained 395 points. However, the momentum fizzled out in last hour and the Sensex briefly slipped into negative zone to touch a low of 24,433.90. It recovered marginally to end 23.53 points higher at 24,716.88, surpassing its record close of 24,693.35 on Friday. Intra-day, it swung 741 points.
Domestic markets may see the return of retail investors finally as earnings from equities have turned positive in recent months, brokerage firm Morgan Stanley said in a report. Meanwhile, global brokerage Deutsche Bank on Monday reiterated its Sensex target of 28,000 for December, implying an upside of about 14% from current levels.