All time high close for mkts: Sensex hits 20,000

Sensex hit 20,000 mark in late trade after remaining range-bound close to this mark for most of the afternoon trade after an initial surge. Reliance Industries surged to all-time high in afternoon trade. Expectations that the US Federal Reserve would cut interest rates this week and that it will ease monetary policy further in the coming months, boosted the bourses today.

Sensex was up 734.50 points or 3.82% at 19977.67, and the Nifty up 203.60 points or 3.57% at 5905.90.The Sensex achieved the journey of 1,000 points from 19,000-20,000 in ten trading sessions. Sensex had first crossed 19,000 mark on 15 Otober 2007.

Oil & gas stocks surged. India's largest oil exploration firm ONGC rose 7.27% to Rs 1,240. It hit an all time high of Rs 1,252.95 today.

Reliance Industries (RIL) rose 5.15% to Rs 2,830.95. It hit an all time high of Rs 2,844 today. RIL is reportedly in talks to acquire some manufacturing facilities from Arvind Mills, mainly in the denim segment.Reliance Petroleum (up 9.85% to Rs 222) and GAIL India (up 1.73% to Rs 414.10) edged higher.

India's biggest dedicated housing finance firm HDFC rose 9.9% to Rs 2,820. It hit an all time high of Rs 2,838 in late trade today.

Maruti Suzuki India rose 1.67% to Rs 1,199.30. The stock came off higher level. It had hit all-time high of Rs 1,252 earlier during the day. Maruti Suzuki India’s net profit rose 26.94% to Rs 466.5 crore on 33.74% rise in total income to Rs 4,735.83 crore in Q2 September 2007 over Q2 September 2006. The results hit the market during trading hours today.

Capital goods stocks rose sharply. India's biggest power equipment maker in terms of revenue Bharat Heavy Electricals rose 7.66% to Rs 2,614. It hit an all-time high of Rs 2,697.90 ahead of its results today. India's biggest engineering & construction firm by revenue Larsen & Toubro surged 10.27% to Rs 4,275. It hit an all-time high of Rs 4,300 today. Suzlon Energy (up 2.57% to Rs 2,029) edged higher.

India's biggest power generation firm National Thermal Power Corporation rose 1.81% to Rs 232.80. It hit an all-time high of Rs 240 today. Net profit of NTPC rose 30.64% to Rs 1925.50 crore on 17.66% rise in sales to Rs 8016.90 crore in Q2 September 2007 over Q2 September 2006. The results were announced on Saturday, 27 October 2007.

Banking majors surged. State Bank of India rose 1.63% to Rs 2,118. It hit an all time high of Rs 2,179.70 today. State Bank of India's net profit rose 36.04% to Rs 1611.42 crore on 33.42% rise in total income to Rs 13658.22 crore in Q2 September 2007 over Q2 September 2006. The results were announced on Saturday, 27 October 2007.

HDFC Bank rose 5.96% to Rs 1,638.25. It hit an all time high of Rs 1,660 today. ICICI Bank rose 5.28% to Rs 1,247. It hit an all time high of Rs 1,265 today.

Grasim Industries rose 1.52% to Rs 3,830. It hit an all-time high of Rs 4,074 today. The Aditya Birla Group company on Saturday, 27 October 2007 said it registered a 47.90% jump in net profit to Rs 499.78 crore on 25.30% rise in net sales to Rs 2519.23 crore in Q2 September 2007 over Q2 September 2007.

World’s sixth largest steel maker Tata Steel declined 9.12% to Rs 900.25 and was the top loser from Sensex pack. The stock turned ex-rights from today.

Tata Motors (down 0.81% to Rs 803.85),Bajaj Auto (down 0.42% to Rs 2,505), Cipla (down 0.38% to Rs 184.30) and TCS (down 0.28% to Rs 1,067) edged lower.

Mahindra & Mahindra was flat at Rs 801.85. Mahindra & Mahindra’s net profit declined 26.01% to Rs 285.94 crore on 12.02% rise in total income to Rs 2,871.54 crore in Q2 September 2007 over Q2 September 2006. The company announced the results during the market hours today.