Nifty at new high, Sensex climbs 118 points

The Nifty continues its record-breaking spree by gaining another 26.10 points on the back of a better-than-expected growth in the economy.

The National Stock Exchange's index Nifty continued its record-breaking spree by gaining another 26.10 points to hit an intra-session new high of 4,321.90 on the back of a better-than-expected growth in the economy.

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The BSE-30 share index, Sensex, which had gained more than 133 points on Thursday, was up by another 118.75 points at 14,663.21 in the first five minutes of trading.

Stock brokers said the economy reporting a 9.4 per cent growth in GDP in 2006-07, the fastest in almost twenty years, mainly buoyed the trading sentiments.

They said firming trends at other Asian markets was another positive factor.

Major support came in from stocks such as Reliance Industries, BHEL, Larsen and Toubro, Ranbaxy, ITC, Hero Honda, Maruti Udyog, Reliance Communications and Reliance Capital.

Stocks of Deccan Aviation saw hectic activity after reports of Vijay Mallaya's UB Holdings picking up 26 per cent stake in the company.

Deccan Aviation stocks were up by 6 per cent at Rs 155 while UB Holdings climbed 6.5 per cent at Rs 728.40.