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Sensex sets new peak, closes at 16,564.23 points

The benchmark index surges by 216.28 points to set a new closing peak at 16,564.23 after touching a high of 16,616.84.

business Updated: Sep 21, 2007 17:52 IST

The benchmark Sensex on Thursday surged to its new peak by gaining over 216 points on the Bombay Stock Exchange on account of fag-end buying by funds triggered by reports of a fall in inflation.

The Sensex surged by 216.28 points to set a new closing peak at 16,564.23 after touching the day's high of 16,616.84 and low of 16,308.09 points.

Similarly, the wide-based National Stock Exchange index Nifty spurted by 90 points, reaching its all-time high of 4,837.55. During the day, it dipped to 4,733.70 and touched a high of 4,855.70 points.

The major support was extended by refinery stocks after the crude oil zoomed to cross 84 dollar a barrel in future trading in New York on Wednesday night.

Oil and gas index gained the most by 320.49 points at 9,340.05 as Reliance Industries, the heaviest scrip, shot up by 82,30 to 2,274.40 and ONGC rose by Rs 17.95 at Rs 923.35.

Reality index spurted further by 139.04 points at 9,183.44 on the back of some construction company stocks such as DLF, Unitech and Sobha Developers notched up fresh ground.

Capital goods index rose by 127.71 at 14,520.17, metal index by 89.45 points at 12,812.76 and bank index by 51.16 points at 8,739.84.

First Published: Sep 21, 2007 16:56 IST