Indian shares hit record 18,000 points level

MUMBAI, Oct 9, 2007 (AFP) – Indian shares prices hit a record high Tuesday with the benchmark Sensex index vaulting the psychologically key 18,000-point level for the first time.

Dealers said support for the market came from information technology and oil refinery stocks on hopes of a strong second quarter earnings performance.

The Sensex was trading at an intra-day high in late afternoon of 18,072.35 points, up 580.96 points or 3.32 percent. Lifted by a tide of foreign money seeking to invest in India’s fast-growing economy, Indian shares have climbed more than 25 percent this year.