Bombay Stocks Soar Again

Bombay stocks set another record Wednesday.

The BSE Sensex rose 98 points to close at 12,612 after earlier touching an intraday high of 12,624.

Top gainers on the index were Hindalco, which rose by 4.3%, Tata Power, up 4%, and ICICI Bank (IBN Quote), up by 3.5%.

The top losers on the index were Gujarat Ambuja , which lost 2.7%, and Grasim and ACC, each down 2.3%.

UTI Bank rose 1.9% on reports it may boost home loan rates by 50 basis points to 9% for its existing customers from July 1.

Tamilnadu Newsprint rose 2.2% after revenue doubled in the last year.

Asian Paints rose up 0.6% after posting a 22% rise in profit for the year.

Reliance Natural Resources moved up 2.3% on plans to raise $300 million in a bond issue.