Sensex at new high of 13,399

Shares overcame a sluggish start to reach a new peak on Monday before ending 0.87 per cent up as software and telecommunication firms rallied on hopes of strong growth and robust foreign fund inflows.

The Sensex ended at 13,399.00 points, just short of a new peak of 13,410.08 set during the day. Gainers beat losers 1,447 to 1,072 on a brisk trade of 234 million shares.

The 50-issue National Stock Exchange (NSE) ended 0.63 per cent higher at a record of 3,858.75 points, short of the all-time high of 3,862.05 reached intra-day.

Buying was seen across-the-board in automobile, telecommunications, cement, infrastructure and information technology stocks. Infosys Technologies rose 1 per cent while Bharti Airtel added 3.9 per cent.

Reliance Communications soared over 3 per cent to Rs 404. Reliance Energy added 2.7 per cent to Rs 535. However, both Tata Steel and Hindalco slipped 1.1 per cent as metals weakened after a fall in copper prices in the London Metal Exchange.

Larsen & Toubro edged 0.2 per cent higher to Rs 1,335 after the company's power unit signed an agreement with Mitsubishi Heavy Industries Ltd for the transfer of technology and manufacture of super-critical boilers.

The scrip recorded volumes of over 400,000 shares in the NSE.

Banking stocks also ended with smart gains. ICICI Bank gained 1 per cent to Rs 840, while HDFC Bank advanced 1.1 per cent to Rs 1,056.

Automobile stocks were a mixed bag. Tata Motors witnessed bargain hunting and climbed by nearly 2 per cent to Rs 834, while Maruti advanced 1 per cent to Rs 916. However, both Hero Honda and Bajaj Auto slipped.

The market breadth was positive. Out of 2,626 stocks traded, 1,472 advanced, 1,082 declined and 72 were unchanged.