It had earlier reached an intra-day high and low of 15,330.73 and 15,216.83 respectively, after opening firmly higher at 15,216.83 from its previous close of 15,092.04.
The broader National Stock Exchange (NSE) Nifty Index also gained an impressive 58.40 points to close on safe terrain at 4,504.55 from its previous close of 4,446.15, after opening marginally higher at 4,446.40 and moving between 4,513.90 and 4,446.05 during the day's session.
''The market saw steady buying interest throughout the day's trading session except for the odd blip in late-afternoon trade, which was marked by some volatility. Shares from the metal pack were in forefront, while auto and cement also participated in the rally.
Pharma shares were offloaded today,'' market analysts said.
Official data showed a slight rise in inflation for the week ended 30 June 2007 at 4.27 per cent per annum as against 4.13 per cent in the previous week due to costlier food and manufactured products.
However, it was lower when compared to the annual inflation rate of 5.21 per cent during the corresponding week of last year, economists pointed out adding that the government today revised the inflation rate for the week ended May 5 to 5.74 per cent from the provisional estimate of 5.44 per cent.
BSE data revealed that the positive market breadth, that lasted till mid-afternoon session, turned negative towards the close of the session, with 1,566 shares declining as compared to 1,164 advancing, while 50 remained unchanged. However, the total turnover vaulted in the last hour of trade, to Rs 6,714 crore. Among the 30-scrip Sensex pack, 21 stocks were trading in the green, while the rest were in the red.
The Rupee was steady today despite the greenback's weakness against some currencies and surging stocks as traders were worried that the Reserve Bank of India (RBI) may again intervene aggressively to curb gains. In early trade, the partially convertible rupee was at 40.50/40.51, unchanged from its previous close.
Foreign institutional investors (FIIs) bought shares worth nearly Rs 614.08 crore, while domestic institutional investors (DIIs) were net buyers of shares worth approximately Rs 28.86 crore yesterday.
Hindalco Industries, Sterlite Industries, Reliance Industries (RIL), ACC, UltraTech Cement, Ambuja Cements, Grasim Industries, ICICI Bank, Tata Motors, Mahindra&Mahindra, Maruti Udyog and Infosys ended the day with gains.
The prominent laggards included TCS, Cipla, Ranbaxy Laboratories, and Dr Reddy's Laboratories.
Metal stocks dominated the list of gainers. Aluminiun and copper major Hindalco Industries galloped 6.20 per cent to Rs 174.70 on high volumes of 49.99 lakh shares. It was the top gainer from the Sensex pack. The stock rose on hopes of consolidation in the global aluminium industry after global miner Rio Tinto today launched a USD 38.1 billion offer to buy Canada's Alcan Inc in an agreed deal to create the world's No 1 aluminium producer, feeding expectations of more deals. Rio trumped a hostile bid by Alcoa Inc, now seen vulnerable to becoming a takeover target itself.
Sterlite Industries surged 4.03 per cent to Rs 668. Its ADR jumped 7.8 per cent on NYSE. Other shares from the metal pack, Tata Steel rose 2.92 per cent to Rs 691.90, Hindustan Zinc gained 8.24 per cent to Rs 799.80 and Sail advanced 14 per cent to Rs 164.60.
Index heavyweight Reliance Industries (RIL) extended early gains and was up 2.74 per cent to Rs 1,766 on 9.83 lakh shares. The government has set up a Group of Ministers (GoM) to look into all aspects, from production to pricing of gas to be produced from newer areas, particularly in the deep sea. The GoM, headed by External Affairs Minister Pranab Mukherjee, would decide on production, utilisation, transportation and pricing of gas.
Cement shares advanced on renewed buying after cement sales increased by 4.6 per cent last month over the corresponding period last year. Production rose 5.6 per cent to 13.66 million tonnes last month as against 12.94 million tonnes a year earlier, according to provisional figures compiled by the Cement Manufacturers' Association (CMA). Cement shares are seen to be benefiting from the recent hike of prices by Rs 3 to Rs 5 per 50 kilogram bags across India.