Indian share prices closed at a new record high on Friday, after crossing the key 15,000-point mark in intraday trade as interest rate worries eased, dealers said. They said buying sentiment improved on sustained interest in capital goods, engineering and software stocks against a backdrop of fast-paced economic growth in the South Asian economy.
The benchmark 30-share Sensex index closed up 102.23 points at a record 14,964.12, off an intraday peak of 15,007.22. Gainers led losers 1,471 to 1,109 on volume of 58.5 billion rupees (1.44 billion dollars). The rupee was flat against the dollar at 40.46 while it fell to 54.96 from 55.09 against the euro.
"This was a historic day with a new level set. Fresh direction will come next week as earnings data comes in," said Hiten Mehta, a fund manager at Fortune Financial Services. "The markets may continue to see firm trends if earnings data is strong," said Vijay Tilakraj, chief dealer at brokerage Prabhudas Lilladher. Software stocks rose ahead of Infosys' earnings data next Wednesday.
Infosys closed up 54.7 rupees or 2.85 percent at 1,971.25 while India's largest software exporter, TCS, climbed 49.3 rupees or 4.44 percent to 1,159.05. Engineering multinational Larsen and Toubro gained 33.4 rupees or 1.43 percent to 2,364.55 while newly listed property giant DLF firmed 3.5 rupees or 0.61 percent to 573.55 rupees.
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