The Hindu Business Line : Sensex closes above 6,900

THE bullish sentiment continued on the stock market for the fourth day in a row with major stock indices closing at all time highs. The Sensex closed at 6,915.06.

The market opened steady, but slipped into the red for a brief period before moving up. After early volatility, the market gathered momentum and traded in a narrow range through the afternoon. A fresh bout of buying lifted the Sensex and Nifty to their new highs towards the close of the session.

The BSE Sensex touched an all time high of 6,929.59 intra-day, before ending the day at 6,915.06, up 36.11 points. NSE's S&P CNX Nifty index also touched a new high of 2,173.85 intra-day, before settling at 2,168.95, up 8.85 points.

The benchmark index has gained 635.34 points in seven trading sessions after the Union Budget.

BSE Metal index gained about 81 points to close at 6,925 with major gainers being Nalco (up 9 per cent at Rs 190), Hindalco (up 3 per cent at Rs 1,460) and Madras Aluminium (up 2 per cent at to Rs 237). The upsurge is understood to have come on hopes of a firm trend in global aluminium prices. According to Motilal Oswal Securities, investors who were fence sitting before the Budget were now back. The 7000-mark for the Sensex is now within sight, given strong liquidity backed by inflows from foreign as well as domestic funds, the broking firm said.

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