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Sensex closes at new high of 11,821

Stocks extended gains after the RBI left its key interest rate unchanged for this quarter to support growth.

india Updated: Apr 18, 2006 16:35 IST

The Bombay Stock Exchange benchmark sensex climbed for the second day in a row on Tuesday to close at a new high of 11,821.57 points following brisk buying by funds in technology and auto sector stocks.

Stocks extended gains after the Reserve Bank of India left its key interest rate unchanged for this quarter to support economic growth.

The 30-share sensex, after gaining 302 points on the previous day, surged further to add 281.89 points to close at 11,821.57, after touching an intra-day high of 11,834.77.

Similarly, the National Stock Exchange index Nifty recorded further gain of 92.95 points at 3518.10. It also rose to 3521.95 points during the day.

The market was bullish thanks to Tata Consultancy Services, the IT arm of Tata Group, announcing attractive fourth quarterly results on the heels of results announced by Infosys Technologies.

"Strong earnings by software companies have led to the rally in technology shares," marketmen said, adding "Technology business momentum is pretty robust."

They said auto shares were higher following no hike in interest rate in today's credit policy.

First Published: Apr 18, 2006 10:22 IST