Indian shares sensex hit record 13,000

Indian shares hit an all-time high of 13,000 points Monday amid renewed confidence about the country's economy.

Blue chip companies such as Bharti Airtel and Reliance Industries Limited led the advance.

The Bombay Stock Exchange's 30-stock index rose 0.8 percent to reach 13,012.49 points. The market's previous all-time high 12,994.45 points came Oct. 17.

Analysts expected the Sensex to hold onto these levels with companies posting strong results during the current earnings season.

'I expect the Sensex to sustain above the 13,000 level over the next few weeks despite corrections in the interim, which may pull the index down below that level,'' said KRIS Capital director, Arun Kejriwal.

Among the gainers, Reliance Industries gained 1,232 rupees up 0.7 percent, while Bharti advanced 539 rupees up 2.2 percent.

The Sensex has already risen nearly 38.5 percent so far this year, having gained 42 percent in 2005 as foreign investors continued to invest in India's economic growth story.

Previously we reported the Bull Run when it touched 12690.92 points.

Source: Hindu