Monday, July 18 2005 17:20 Hrs (IST) - World Time -

Mumbai: Bolstered by consistent Foreign Institutional Investors (FII) inflows and excellent first quarter working by some corporates, the Sensex today (July 18, 2005) soared by 76 points to end at a life-time peaks of 7347.10, extending its rally to second straight session.

FII, which reported net investments of over Rs 1,269 crore in equity in the first four days last week, reportedly were heavy buyers in several blue chip counters, particularly heavy weighted stocks.

FIIs have so far pumped in more than Rs 23,000 crore in the current calendar year.

IT major Tata Consultancy Services (TCS) Ltd lead a smart rally in software counters. TCS Ltd hogged the limelight scoring impressive gains on the company's announcement of better-than-expected Q1 results.

The BSE Benchmark 30-share Index opened strong at 7325.65and gradually moved upwards to a new intra-trade record high of 7359.81 before ending the day at 7347.10 as against last Friday's close of 7271.54, a net rise of 75.76 points or 1.04 per cent.

The benchmark has surpassed previous intra-trade historic peaks of 7352.46 touched on July 12 and an all-time closing high of 7306.74 hit on July 11.

Favourable rainfall in many parts of the country also had a sentimental impact on the market.

The market has turned distinctly bullish and the present price rally is expected continue unless some unforeseeably negative development occurs, brokers said.

The top heavyweight Reliance Industries Limited (RIL) witnessed a block deal of 59.9 lacs shares at the price of Rs 663.30 per share but ended down due to selling pressure.

Sensex soars by 76 points, hits historic peaks.