Mumbai: Share prices commenced the New Year with big bang and the Sensex once again crossed 5900-mark on the Bombay Stock Exchange (BSE) in early trading today (Jan 1, 2004) on all-round buying by foreign funds and operators.

The BSE-30 share Sensitive Index opened sharply higher at 5872.48 as against yesterday's close of 5838.96 and gradually moved upward to a high of 5910.32 before being quoted at 5908.37 at 10.30 hours (IST).

News of significant rise in GDP (gross domestic product) growth to 8.4 per cent in the second quarter from 5.7 per cent posted in the first three months of the current fiscal boosted the market sentiment.

The rally was not confined to any particular segment as old as well as new economy shares attracted heavy buying and were quoted remarkably higher.

Most of the Index-based shares, particularly heavyweights like RIL, HLL, Infosys Technologies, Grasim, ONGC, L & T, ITC, Ranbaxy, Tata Motor, Tisco and Wipro were in keen demand on institutional support.

Among the top gainers, GTC quoted higher by 9.10 per cent, Balaji Telefilms by 7.13 per cent, Silvertech by 6.73 per cent, Escorts by 5.73 per cent, Hindink by 5.15 per cent and IDBIBNK by 4.06 per cent.

However, TVS motor declined by 4.63 per cent, Concor by 2.32 per cent, Cummins 1.60 per cent, Sygenta by 1.17 per cent and Bank of Baroda by 0.81 per cent.