The Hindu Business Line : Sensex climb continues, touches 8,138

IT was the seventh consecutive day of record high and ninth day of rise for the stock markets on Monday. Continued buying by institutional investors, foreign and domestic, and expectation of sound corporate earnings season ahead contributed to the bullishness in the bourses.

The Sensex closed firmly above the 8,100-level with nearly one per cent rise on Monday. The index, which touched an intra-day high of 8142.81, closed with a net 78.41-point gain at 8138.42.

The Nifty gained 1.17 per cent, ending trade at 2484.15, up by over 28 points from Friday's close.

The merger announcement by the Aditya Birla Group saw hectic activity in the counters of Indian Rayon and Indo Gulf Fertilisers. Share price of Indo Gulf rose by over 10 per cent to close at Rs 186.95, a gain of Rs 17.70 on Monday. The market, however, did not view the deal favourably for Indian Rayon. The scrip slipped over six per cent and closed at Rs 578.40. The other group company Grasim Industries gained Rs 57.05 to close at Rs 1359.05.

Volumes traded were below average on Monday. BSE reported a total turnover of 42 crore shares worth over Rs 3,106 crore. At NSE, 37.5 crore shares at a turnover value of Rs 5,767 crore were traded.

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