Sensex closer to 15k mark, ends 74 pts up
Extending gains for the third straight day, the 30-share index closes at a new high of 14,880.24 points.business Updated: Jul 04, 2007 18:07 IST
The Bombay Stock Exchange benchmark index, Sensex, on Wednesday extended gains for the third straight session and closed at a new high of 14,880.24 points on sustained buying by foreign and domestic funds.
The Sensex, which also recorded an intra-day record high of 14,906.93 points, shot up by 73.73 points at 14,880.24 on funds buying in heavy-weights led by cement and steel stocks.
Similarly, the second wide-based National Stock Exchange index Nifty rose 1.75 points to close at 4,359.30, a new closing high. Earlier, it reached an intra-day record high of 4,386.45 points and a low of 4342.
Steel, and cement stocks led by ACC were the centre of brisk activity following reports that some companies raised building material prices.
Major gainers were ACC by 8.6 per cent, Gujarat Ambuja Cement by 4.2 per cent, Grasim Industries by 1.2 per cent and Tata Steel by nearly 2.5 per cent.
The market also received support from construction company stocks ahead of opening of mega issue of DLF Ltd.
Meanwhile, the stocks of Vishal Retails listed on the bourses at Rs 472.50, against the offered price of Rs 270 and scaled a dizzy height of Rs 780 on the NSE.