Sensex hits fresh peak

The bulls gathered momentum on Friday. After Thursday’s correction, the market made a solid rebound from the lower level, taking key indices — Sensex and Nifty — to their lifetime closing highs.

The barometer BSE Sensex rose 28.86 points or 0.4 per cent to 7,148.62 — a lifetime closing high. The Sensex hit a high of 7,178.04. The S&P CNX Nifty advanced 10.50 points or 0.48 per cent to 2,194.35 — a lifetime closing high.

From a recent low of 6,781.99 on June 10, 2005, the Sensex has now gained 366.63 points or 5.4 per cent in just 10 trading sessions to the current 7,148.62.

Gains in FMCG, auto, and pharma stocks and index heavyweights like ONGC and Reliance Industries, led today’s surge in the Sensex and Nifty. ONGC scaled a 52-week high boosted by the fact that global crude oil prices reached a record level of $60 a barrel.