Sensex ends at record high, up 86 pts
Brisk buying, largely on expectations of good Reliance Q3 results, pushes the BSE index to close at 14,218 points.india Updated: Jan 18, 2007 17:17 IST
The BSE benchmark Sensex surged more than 86 points to close at a record high of 14,217.75 on aggressive buying by funds along with short-covering in several blue-chip stocks.
The 30-share key index flared up by 86.41 points after registering an intra-session record of 14,325.92 during the day, as Reliance Industries stocks registered sharp gains in anticipation of strong third quarter results.
Similarly, the wide-based National Stock Exchange index Nifty, ended 32.60 points higher at 4,109.05 after touching an intra-day high of 4,140.25.
Market observers said the sentiment was bolstered by strong FII activity.
Trend-setters and heavyweight Reliance Industries stocks saw hectic trading during the session and surged to an all-time high of Rs 1,383.50 ahead of the company's announcement of its third quarter results.
Stocks of state-run ONGC were also in keen demand after reports that the company had discovered gas in the Mahanadi basin, off the coast of eastern Orissa.
ONGC stocks climbed to a session's high of Rs 936.