Sensex ends at an all-time high on capital inflow
The Samvat year 2066 ended on a cheerful note with the BSE benchmark Sensex closing at an all-time high of 20,893.57 points on heavy capital inflows.business Updated: Nov 04, 2010 16:35 IST
The Samvat year 2066 ended on a cheerful note with the BSE benchmark Sensex closing at an all-time high of 20,893.57 points on heavy capital inflows.
The wide-based National Stock Exchange's index Nifty too spurted by 121.30 points to close at record high of 6,281.80 points.
On the eve of Diwali, the 30-share benchmark Sensex shot up by 427.83 to 20,893.57, surpassing its previous record closing level of 20,873.33 on January 8, 2008. The measure was still below an intra-day high of 21,206.77 on January 10, in the same year.
Trading sentiment turned bullish as the US central bank expanded support for the world's biggest economy and the mega public offering by Coal India gained over 39 per cent in its debut trading on Thursday. Easing food inflation was another supporting factor for the market.
This year's nearly 20 per cent rally makes the Sensex the best performer among the world's 10 biggest stock markets as foreign funds inflows surged 80 per cent, helping to absorb the country's largest initial share sale by Coal India Ltd.
In 30-BSE index components, 28 stocks closed with gains and two ended with losses, while all the sectoral indices finished in positive zone.
The upsurge was important for the investors and broker fraternity ahead of the special 'Mahurat trading on Diwali on Friday between 1800 to 1915 hrs to start new accounts by registering gains.
The Muhurat trading, considered the most auspicious time to start investments, normally advise them to start new accounts by making profits. The markets generally develop profit booking in the special trading in more than a decade.
The most-heaviest on the Sensex, Reliance Industries shot up by Rs 39.50 to Rs 1,104.75 and second most heaviest Infosys Technologies by Rs 52.50 to Rs 3,076.55. State Bank of India also rose by Rs 162.85 to Rs 3,434.90. Three carry nearly 29% weightage on the index.
The oil and gas sector index gained the most by 2.77% to 11,147.90 followed by metal sector index by 2.27% to 17,467.93. The banking sector index rose by 2.12% to 14,961.26.
The auto index rose by 1.67 per cent to 10,241.05 as stocks of Tata Motors Ltd., the best performer on the benchmark index this year, rose by Rs 47.80 to Rs 1,233.10.