Stock, Bond Markets Higher; Dow Gains 11

NEW YORK — The stock and bond markets moved broadly higher Thursday as interest rates continued to decline.

The stock market chalked up another advance to record highs, although prices retreated from their mid-session peaks as some traders took profits before a long holiday weekend.

Analysts said continuing declines in interest rates encouraged buyers in a busy session.

The Dow Jones average of 30 industrials, up almost 30 points at its best levels of the day, settled for an 11.02 gain at 1,821.72. For the four-day trading week, the average rose 53.16 points.

Volume on the New York Stock Exchange reached 178.10 million shares, up from 161.46 million on Wednesday.

With one session left in the first quarter of 1986, the Dow Jones industrials sport a gain of more than 275 points since New Year’s.

Financial Issues Gain

Bank and other financial issues were strong in response to the latest interest rate declines. Citicorp rose 1 to 63, Manufacturers Hanover rose 1 to 56 1/2, First Wachovia gained 1 to 43 7/8, Mellon Bank was up 7/8 at 71 5/8 and J. P. Morgan rose 1 1/2 to 78 7/8.

Among savings and loan and mortgage stocks, H. F. Ahmanson gained 1 5/8 to 67, Great Western Financial rose 1 5/8 to 43 1/2 and Federal National Mortgage rose 1 to 34.

Retailing issues also had a good day, with Sears, Roebuck up 1 3/8 at 50 1/8, J. C. Penney up 12 at 68 3/8, F. W. Woolworth up 1 1/8 at 76 1/2 and K mart up at 43 3/4.

In the overall tally on the Big Board, advancing issues outnumbered declines by more than two to one.

Large blocks of 10,000 or more shares traded on the NYSE totaled 3,356, compared to 3,211 on Wednesday.

The bellwether 30-year Treasury bond jumped $25 for each $1,000 in face amount. The yield on the bond moved down to 7.59% from 7.78% late Wednessday.

In the secondary market for Treasury securities, yields on three-month Treasury bills slid five basis points to 6.34%. Six-month bills fell seven basis points to 6.32%, while one-year bills dropped 9 basis points to 6.36%.All U.S. stock and commodity markets will be closed today in observance of Good Friday. There will be no Business section Saturday.