Ignoring various negative factors like high oil prices, speculators continued their buying spree, pushing up the Sensex by another 71 points. The index which closed at 7876.15, is just 124 points away from the 8,000-mark.Speculators are not targetting A group shares alone. Hundreds of penny stocks and Z group shares are also rising. Even dud stocks are being relisted by promoters to take advantage of the bull run.On Monday, IT and auto stocks were at the forefront of the rally on the back of a positive newsflow. A multi-million-dollar outsourcing deal bagged by two Indian IT firms boosted IT scrips, whereas the reported statement by Finance Minister P Chidambaram that the excise duty on vehicles will be reviewed, triggered off buying in auto scrips.Meanwhile, after a strong opening debut at Rs 685 (on the BSE), a 29 per cent premium over the IPO price of Rs 530, the HT Media stock witnessed a sustained decline, which accentuated towards the latter part of the trading session. The stock settled at Rs 557.67 on the BSE.A total of 54.8 lakh shares of the company were traded.
