Sensex surges to record high

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MUMBAI: The Bombay Stock Exchange benchmark Sensex on Monday surged to a new intra-day peak of 14745.97 and settled at a record high of 14664.26 on hectic buying by funds in blue-chips led by cement and capital goods stocks. The BSE Sensex rose by 13.75 points to close at 14664.26, surpassing the previous record of February 9 this year. It also set an intra-day high record at 14745.97, after touching a low of 14638.88.However, the second wide-based National Stock Exchange index Nifty shed 4.55 points to settle at 4313.75.Trading activity remained bullish particularly in cement and capital goods on expectations of some change in product prices which might improve earnings. Engineering stocks such as ABB, Larsen and Toubro and Punj Lloyd as well as cement scrips such as ACC and India Cements led the rally on the bourses.

Among the 30 stocks on the Sensex, 17 scrips ended in the positive zone while the rest closed in the red.

Index heavyweight Reliance fell to a low of Rs. 1,680, but managed to close the day at Rs. 1684.50. PSU major ONGC also ended in the red territory down 0.67 per cent at Rs 896.10.

Maruti Udyog was the major gainer on Monday, surging over 4 per cent and ended at Rs .771.35, up 3.81 per cent.

“The new quarter of 2007-08 has started on a bullish note which could be strengthened further if companies post robust earnings for the March-June quarter which would be announced by the second week of this month,” an analyst with a domestic brokerage firm said.— PTI



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