Mumbai: The benchmark Sensex today advanced 115 points on Bombay Stock Exchange due to brisk buying by funds even as the index heavy-weight Reliance Industries surged to set a new peak at Rs1761.55.
The Sensex, which had been on the upward march, extended its gains today by rising 115.19 points at 14,418.60 as most of the index-related stocks led by Reliance Industries notched up fresh ground. It moved between 14,451.30 and 14,362.63 points during the day.
Similarly, the second wide-based National Stock Exchange index shot up by 46.40 points to set a new peak at 4,260.90, after touching the day’s high of 4,269.35 and 4,217.55 points.
Dealers said however that software stocks fell as the rupee gained against the dollar. Many Indian software firms bill overseas clients in dollars and a gain in the rupee cuts local currency earnings.
“The buying momentum is back, the markets should peak to a record high soon,” said Hiten Mehta, a fund manager with Fortune Financial Services.