Sensex zooms past 15,000 level

Media, sugar and auto stocks were in the limelight on Thursday as key stock indices made their fifth successive rise on strong cues from the US and across Asia.

The benchmark Sensex pared early gains, but still ended at 15,121.74, up by 128.70 points, or 0.86 percent, its highest close since August 8.

Twenty two of the 30 shares on the Sensex advanced from yesterday's close. All the indices, except the BSE Realty Index (down 1.28 percent), ended in positive territory, reflecting broad buying on Thursday.

The BSE Auto Index, which rose 1.38 percent, was the biggest gainer among all indices, after investors felt that a possible rate cut in the US may bring an end to the recent rate hikes by the Reserve Bank of India.

The Sensex has risen 6.8 percent over the five sessions, but it is still 4.7 percent below last month's record high of 15,868.85.

Analysts said the expiry of near-month contracts was more or less normal as most contracts got rolled over to the next month. Stock and index futures expire on the last Thursday of every month.

Sugar stocks, which were battered over the last several months, continued to attract buying on news that blending of 10 percent of ethanol with petrol to run motor vehicles would be made mandatory. Stocks like Bajaj Hindustan, Balrampur Chini, Shree Renuka Sugars and Dwarikesh have risen by up to 28 per cent in the last 5 trading sessions.

Similarly, most media stocks rose on spurt in buying. Sun TV, the South Indian TV major, was up six percent on Thursday to Rs 330.25, after the company announcing strategic alliance with Red FM to enter into North, West and East Indian markets. It has also acquired a 48.9 per cent stake in Red FM through its subsidiary company.

Sri Adhikari Brothers or Sab TV was up 1.74 per cent to Rs 20.45, after its board on Thursday approving consolidation of face value of each share to Rs 10 from Rs 2 per share.

Similarly NDTV shot up by 3 per cent to Rs 349.85 on reports that UB Group may announce 5 year advertisement commitment of Rs 100 crore to company's forthcoming lifestyle channel.

Pritish Nandy Communications was another major gainer on Thursday, increasing by 5 per cent to RS 88. Balaji Telefilms zoomed 3 per cent to Rs 285. Zee News, the news channel owned by Subhash Chandra, grew 4.28 per cent to Rs 63.40.

Among auto stocks, Mahindra & Mahindra (up 2.95 percent to Rs 675.15) and Bajaj Auto (up nearly 2 percent to Rs 2,364.55), were the top gainers.