Sensex, Nifty scale new peaks for third consecutive day
Sensex and Nifty close at record highs on active buying in blue-chip stocks and increased FII inflows.business Updated: Jul 16, 2007 19:06 IST
The stock market rallied ahead for the third session in a row, with key indices Sensex and Nifty closing at record highs on active buying in blue-chip stocks and increased FII inflows.
Small-cap and mid-cap segments too attracted good buying interest and registered smart gains.
On a day when other Asian markets saw mixed trading, the 30-share BSE Sensex advanced to an all-time intra-day high of 15,341.38 points before winding up at a new peak of 15,311.22, a gain of 38.50 points or 0.25 per cent over Friday's close.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also jumped to a trading high of 4,521.85 before closing at a record high of 4,512.15, up 7.60 points or 0.17 per cent over the previous close.
Riding high on fairly good liquidity and analyst forecast of better-than-expected first quarter financial results, the market climbed new peaks, discounting sluggish trend in Asia.
Barring Nikkei, which ended up by 254.81 points, Shanghai Composite fell back by 92.48 points, Hang Seng by 145.35 points and Taiwan 53.98 points.
Bank, PSU and realty shares attracted good buying support and pushed their respective index on the BSE.
IT counters, particularly mid-cap shares, suffered a sharp setback on fresh selling triggered by concerns over the negative impact on the sector's performance of appreciating rupee against dollar.