Date:22/09/2007 URL: http://www.thehindu.com/2007/09/22/stories/2007092256421800.htm

Business

Sensex scales new peak

MUMBAI: The benchmark Sensex on Friday hit a new peak of 16564.23 by gaining 216.28 points in scrip specific activities, propelled by a sharp rally in top heavyweight Reliance and sustained fall in inflation rate.

Petrochem giant Reliance Industries remained the favourite scrip of institutional investors and touched a life-time high of Rs. 2,294 on reports that the company has found oil in D4 block in the Krishna-Godavari (KG) basin.

Most of the other Reliance companies, both of Mukesh Ambani and Anil Ambani, were at the forefront, touching their all-time peaks during the trade. The Bombay Stock Exchange 30-share barometer initially touched a low of 15308.09. But emergence of buying after mid-session pushed it to a new intra-day high of 16616.84 before concluding the day at 16564.23 against Thursday’s close of 15,347.95.

Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange crossed 4800-mark for the first time to a high of 4855.70. It ended at 4837.55. — PTI