Sensex extends gains for 7th straight day

The benchmark index BSE Sensex rose for the straight seventh day on firm global cues. It hits its highest closing since 12 August 2008.The BSE 30-share Sensex rose 94.87 points, or 0.63%, off close to 155 points from the day's high and up close to 110 points from the day's low. Banking stocks pared gains and index heavyweight Reliance Industries faltered. While IT stocks rose. Hopes of renewed reforms and rekindled growth by the new government also bolstered investor sentiment