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Sensex up 74 pts to new peak of 14,880

Sensex up 74 pts to new peak of 14,880
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First Published: Wed, Jul 04 2007. 05 17 PM IST
Updated: Wed, Jul 04 2007. 05 17 PM IST
PTI
Mumbai: With eyes set on 15,000-mark, bulls on 4 July continued their record-run on the bourses for third day in a row with the benchmark Sensex settling at a new peak of 14,880.24 on strong buying in auto, cement and metal stocks.
The Bombay Stock Exchange’s 30-share barometer index closed with a gain of 73.73 points after crossing the 14,900- mark for the first time ever to reach an intra-day peak of 14,906.93 earlier in the day.
The Sensex had closed at 14,806.51 points the previous day.
The index, which extended its uptrend to the fifth consecutive session on 4 July, has been scaling new closing as well as intra-day peaks for the past three days in a row.
The bulls are eyeing 15,000-level as the next obvious milestone, while betting on the build-up to first quarter earnings season as a major driver to achieve this mark, brokers said.
Besides, expectations for good first quarter results, positive global cues and falling inflation levels are also adding to the positive sentiments, they added.
The 50-share Nifty of National Stock Exchange ended with a marginal gain of 1.75 points at a new peak of 4,359.30 points, surpassing its previous close of 4,357.55 points.
The market breadth at the BSE was negative, even though the turnover improved — indicating some market players have started booking profits at higher levels, brokers said.
Smart gains were seen in blue-chips like RIL, ACC, Grasim, GACL, L&T, ICICI Bank, Reliance Com, Tata Steel, Tata Motors, Maruti and NTPC.
Cement shares were in keen demand on reports about hike in cement prices, while select metal and auto stocks also attracted good buying support. However, selling pressure was seen on the technology and consumer durables counters.
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First Published: Wed, Jul 04 2007. 05 17 PM IST
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