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Sensex closes at record high

Indian share prices rose 0.83 per cent to close at a sixth-straight record high on Monday on Asian market trends.

india Updated: May 08, 2006 17:29 IST

Indian share prices rose 0.83 per cent to close at a sixth-straight record high on Monday on Asian market trends and fund buying in banks, software companies and Reliance Industries, dealers said.

They said India's largest private company, Reliance Industries, rose to an all-time-high ahead of the listing of its new subsidiary, Reliance Petroleum, this week.

The benchmark 30-share Sensex index rose to an intra-day high of 12,511.07 before retracing to close 102.77 points up to 12,462.47.

"Overseas fund buying was seen in sectors which were under-performers in recent times.

Housing finance and banking stocks surged on expectation of higher growth in the real estate sector," said Atul Hatwar, a dealer with brokerage Crosseas Securities.

First Published: May 08, 2006 12:44 IST