Dalal Street continued to ignore the grim flood situation in the commercial capital with the benchmark Sensex posting another rally to a new closing high of 7,669.45.Units of many companies including Reliance, Bombay Dyeing and Century located near Mumbai were affected by the floods and heavy rainfall. ‘‘The flood losses could cross Rs 2,000 mark. If you include the ONGC fire, the amount will double,’’ said NSE dealer Pradip Bhavnani.On Monday, the barometer BSE Sensex gained 34.03 points or 0.45 per cent to a lifetime closing high of 7,669.45. The S&P CNX Nifty gained 5.75 points or 0.25 per cent to 2,318.05.Mumbai almost came to a halt in the entire last week. Still the Sensex jumped 212.17 points or 2.8 per cent last week to 7,635.42. ‘‘Some big funds are pumping money into the market. It’s not clear what kind of money is coming to the market. There’s something wrong with the way the market is moving up,’’ said another top BSE broker.Index heavyweights like Oil and Natural Gas Corp, Reliance Industries (RIL), Hindustan Lever (HLL) and Infosys Technologies aided Sensex’s surge.HLL surged on strong second quarter results. Auto shares edged higher on the back of improved July sales and in some cases on the back of strong first quarter results. Cement shares strengthened on expectations of strong July dispatches. Ranbaxy hit the roof, leaping up 9 per cent to Rs 514 after the company on Friday announced it has received tentative approval from the US Food and Drug Administration (USFDA) to manufacture and market Glimepiride Tablets, 3 mg and 6 mg.Power shares were in demand. NTPC jumped 4.9 per cent to Rs 98.50 on the back of first quarter results. HLL jumped 4.7 per cent to Rs 174.80 after the company reported better than expected Q2 results.Reliance Capital spurted 9 per cent to Rs 459 after its 100 per cent subsidiary Reliance Life Insurance Co acquired total stake in Chennai-based life insurance company AMP Sanmar.
