Mumbai: The stock markets on 29 May 2007 gained ground on the back of a broad-based rally, sans technology and FMCG stocks, with the benchmark Sensex rising past the 14,500 mark to its fifth highest close.
The Bombay Stock Exchange’s 30-share benchmark index, Sensex, settled 110.32 points higher at 14,508.21 — its highest closing since 9 February and the fifth biggest level above 14,500 points in its history.
After briefly trading in the red and touching an intra- day low of 14,372.07 points, the Sensex hit an intra-day high of 14,530.15 points, which was less than 200 points away from its life-time peak of 14723.88, scaled on 9 February.
The National Stock Exchange’s 50-share index, Nifty, settled at 4293.25 points, 36.70 points higher than its previous close, after hitting a record intra-day high of 4298.85.
The market breadth was also strong with as many as 22 stocks moving higher among the 30 Sensex constituents. Across the market, 50.1% stocks listed on the BSE moved higher, as against 45.4% closing with losses.
Cipla, BHEL, L&T, Ranbaxy, Reliance Communications, RIL, HDFC Bank and SBI were among the major gainers, while HDFC, Gujarat Ambuja Cements, NTPC, Infosys and ITC were among the major losers on the Sensex.
Reliance Industries gained 1.85% to end at Rs1,754.75, Reliance Communications surged 2% to settle at Rs521.20 while Cipla and BHEL went up over 4% on the BSE.