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Sensex scales new peak
MUMBAI:
Encouraging news from petro giant Reliance Industries (RIL) and FMCG major Hindustan Lever (HLL) propelled the Bombay Stock Exchange on Monday to a new closing peak of 13186.89, extending the gains to the fourth straight day.
RIL surged by 1.48 per cent to a new closing high of Rs. 1,306.05 following reports that the company might spend $2 billion on an ethanol plant by 2012, while HLL jumped by 4.79 per cent amid reports of another price hike in FMCG products.
Overcoming initial pressure, the BSE benchmark index, Sensex, rallied to a new trading peak of 13206.87 before closing at an all-time high of 13186.89, a net rise of 56.10 points over Friday's close of 13130.79.
Metal and FMCG shares were in keen demand. Metal stocks scored impressive gains on the back of a sharp rise in global metal prices. Bank, PSU and automobile counters, however, witnessed profit taking.
Foreign institutional investors and mutual funds, which have increased their activity since last week, too were selective buyers in key stocks. — PTI
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