Sensex hits new high, soars 212 points in early trade
The benchmark index scales yet another high of 15,304.28 points in early trade on sustained buying by funds in heavy-weight stocks.business Updated: Jul 13, 2007 10:28 IST
The BSE benchmark index climbed more than 212 points to scale yet another high of 15,304.28 points in early trade today on sustained buying by funds in heavy-weight stocks, triggered by firming global markets.
Expectations of good first quarter earnings from corporates also generated fresh buying activity.
The BSE-30 share Sensex, which had jumped 181.42 points in the previous session, gathered another 212.24 points to scale the record intra-session high of 15,304.28 in the first five minutes of trading. It had reached 15,114.95 points on July 10.
Similarly, the wide-based National Stock Exchange's Nifty was up by 52.65 points at 4,498.80, an all-time peak.
Brokers said most of the index-related stocks were in positive zone with sizeable gains after foreign as well as domestic funds made massive purchases in tandem with firming US and Asian bourses, lifting the Sensex to the new high.
They said government's announcement of a Rs 1,400 crore package to provide relief to exporters hit by the appreciating rupee too positively impacted the trading sentiments.