Sensex zooms 136 pts, closes at new high

With this gain, Sensex had risen by 296 points in the last two days. Driven by continuous bullish phase on the Nasdaq of the US and heavy buying by foreign funds, select heavy-weights like Infosys Technologies, Mahindra & Mahindra, ICICI, MTNL and ACCstaged a handsome rally. Besides, Guj Ambuja Cement, Larsen, ITC, BSES and Grasim also posted hefty gains during the session.

FIIs were reportedly net buyers in majority of software scrips besides MTNL, ITC, HPCL and L&T. Domestic institutions picked up shares of Reliance, Hindustan Lever, GACL, ACC and BSES. Infosys Tech touched an all-time high of Rs 9,115 (Rs five paid up) during the session before closing at Rs 8,880, netting a gain of Rs 408.50.

Meanwhile, trading volume too crossed its previous high touching Rs 5,429 crore on the BSE thanks to huge buying in index-based counters by speculators and foreign institutional investors who were transmitting the optimism created by Nasdaq which closed at a high of 4320.63 on Monday up by 1.80 per cent. Dealers said that domestic institutions were sellers (with the exception of LIC and GIC which indulged in defensive buying) and UTI was reported to be a heavy seller at high levels in stocks such as NIIT, which lost by more than four per centtoday.

However, speculators reportedly booked profits in some software scrips. As a result, Aftek Infosys, Cybermate, LCC Info, Mindteck, Omega Tele, Penta Tech and Synlog from the cash group hit the lower price band. In the specified group, twelve scrips including seven index-based ones were locked in the upper circuit filter. The cement sector stole the limelight. ACC was first to hit the upper circuit and then L&T too touched the upper limit of Rs 467. The effect was also felt on other cement counters like Grasim, Gujarat Ambuja, Kesoram Industries, India Cements and Century.

Gold crashes by Rs 100
MUMBAI: Gold prices crashed by Rs 100 per ten gram on the bullion market here today due to sharp fall in London prices and silver also nosedived further in sympathy with gold. In London, the yellow metal was fixed remarkably weak in the moring at $ 303.15 per troy ounce as against the previous close of $ 312.70 an ounce, dealers said.

Standard gold opened sharply weak at Rs 4770 and fell furtherto end at Rs 4725, showing a steep fall of Rs 100. 22-carat gold was nominally quoted Rs 95 lower at Rs 4370. Ready silver resumed Rs 150 lower at Rs 8185and closed at Rs 8190, registering a further big fall of Rs 145. Raw silver fell by Rs 155 to end at Rs 8065 from the last close of Rs 8220.