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Biggest-ever rally, Sensex ends above 16K

BS Reporter  |  Mumbai 

The Sensex opened with a bang at a new all-time high of 15,941 - up 272 points from its previous close - on the back of positive global cues.

The US Fed, on Tuesday, cut its benchmark rate by 50 basis points, for the first time in four years, to 4.75%. A move that resulted in a strong rally across the globe.

The buying momentum was so strong that the Sensex soon crossed a new landmark of 16,000, and went on to extend gains as the day progressed. The index hit an all-time, intra-day high at 16,335 - up 666 points from the previous close.

The Sensex finally ended with its biggest-ever single-day gain of 654 points at 16,323.


First Published: Wed, September 19 2007. 18:16 IST