The Hindu Business Line : Sensex hits all-time high — 1,771 stocks gain, 651 decline on BSE

STOCK prices zoomed on Thursday on the back of the Finance Minster's reassurance regarding certain Budget proposals, taking the major indices to all-time high. Active buying by local mutual funds also buoyed the market sentiment.

The rally was triggered by the index heavyweights Reliance Industries and ONGC. Following the uptrend were Wipro, Bajaj Auto and Cipla, brokers said.

The BSE Sensex closed at a record high of 6,784.72, up 97.83 points (1.46 per cent). Intra-day, the Sensex touched an all-time high of 6,794.22. On the NSE, the S&P CNX Nifty also touched a high of 2,132.75 in intra-day trading and closed the day at 2,128.85, up 35.6 points (1.70 per cent).

Brokers said fresh buying started as market players could read the fine print of the Budget.

"Most market players were expecting stock prices to fall after the Budget, but it did not happen. Now, everyone wants to buy as they do not want to be left out in the rally," said a dealer with a domestic broking firm.

The number of shares that gained outnumbered the losers.

As many as 1,771 shares gained while 651 declined on BSE today. The NSE, too, witnessed a similar trend.

There was buying in mid-cap stocks also, but the major action in today's trading was seen in frontline or index stocks.

At close, the mood in the market remained upbeat which is expected to last over the next few days.

However, some brokers said a correction could be seen on Friday as the Sensex has already gained more than 200 points this week.

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