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Sensex gains new high, closes 140 points up

The market was in a upbeat mood following listing of Anil Ambani's Reliance Communication Ventures Ltd at a notably high level.

india Updated: Mar 06, 2006 20:15 IST

Reliance Communication Ventures Ltd's big bang debut on the bourses on Monday virtually created ripples among the investor community.

It sent the benchmark Sensex to yet another intra-day peak of 10,742.31, even as institutional investors remained upbeat about the Budget as also robust economic growth.

The Rs 10 paid-up share of RCoVL opened at Rs 290.00 and later fluctuated between Rs 309.00 and Rs 277.15 before closing at Rs 290.85 on the first day of its listing.

Driven by high liquidity, the BSE benchmark 30-share Index (sensex) soared to an all-time intra-trade high of 10,742.31 and even ended the day at a new closing peak of 10,735.36 against Friday's close of 10,595.43, netting a hefty rise of 139.93 points or 1.32 per cent.

In the extended trading session till 4:15 PM, Foreign Institutional Investors (FIIs) and Domestic Mutual Funds went on a fresh buying spree after pumping in more than Rs 1,807 crore and Rs 616.60 crore respectively in the first four days of last week.

Enthused by unabated inflows into the bourses, brokers said the market is extremely bullish and likely to cross the 11,000 milestone shortly.

Remarkable gains in heavyweights like RIL, Infosys Tech, HDFC, NTPC, BHEL, Tata Motors, Tata Steels, TCS Ltd, Hindalco, ITC, ICICI Bank, ONGC and Ranbaxy contributed immensely to the sensex's sharp rally.

RCoVL attracted unprecedented activity and clocked the mind-blowing volume during the day.

First Published: Mar 06, 2006 11:26 IST