Sensex soars 94 points

After a pause yesterday, the bulls were back in action today taking the Sensex to a new record levels. The index opened with a positive gap of 19 points at 8208.

Therafter, the index exhibited range-bound movement till the mid-noon deals. The buying gained momentum in the last trading session. Heavy buying towards the close saw the index finish at a new high at 8284, up 94 points from its previous close.

The Nifty scaled to a new lifetime high of 2528, before settling with gains of 32 points at 2524.

Grasim was the major gainer, among the Sensex stocks. The stock surged 4.3% to Rs1,400, followed by TCS up 3.6% at Rs1,450. ACC, Bharti Tele, Gujarat Ambuja, Hindalco, HLL, HDFC, ITC, Maruti, Reliance, Tisco and Tata Power gained 1-3% each.

On the other hand, Bajaj Auto, Hero Honda and Tata Motors ended with marginal losses.

The market breadth was extremely positive with nearly three advancing shares for every declining stock. Out of a total of 2656 stocks traded on the BSE, 1905 stocks advanced and 704 stocks declined while 47 stocks were unchanged.