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Indian shares end 2007 on a high note

Indian shares end 2007 on a high note

Indian shares ended higher Monday, the last trading day of 2007, boosted by fund buying in select shares like Bharti Airtel ahead of their earnings announcement next month.
The Bombay Stock Exchange's Sensitive Index, or Sensex, gained 47.2% in 2007, making it one of the best performing indices in Asian markets.
The index was driven by unprecedented foreign investments amounting to US $16.95 billion (euro11.54 billion), with gains led by the banking, capital goods, metals and the realty sectors.
"The market opened strongly as investors expected funds to buy index heavyweights to improve their net asset value," said Ajit Surana, managing director of Mumbai-based brokerage Dimensional Securities.
The 30-stock Sensex gained 80.04 points, or 0.4%, to end at 20286.99. It traded between 20239.63 and 20484.28 during the session.
On the rival National Stock Exchange, the 50-stock S&P CNX Nifty rose 58.90 points, or 0.97%, to close at 6,138.60.
Bharti Airtel jumped 5.7% triggered by news it has agreed to sell a 9% stake in its tower infrastructure business unit for $1 billion, to investors including Singapore state-owned investment company Temasek Holdings Ltd., Goldman Sachs Group and Citigroup.


Updated : 2021-08-05 09:58 GMT+08:00