Sensex revisits 29-month high on FII's buying spree | business | Hindustan Times
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Sensex revisits 29-month high on FII's buying spree

business Updated: Jul 24, 2010 14:54 IST

PTI
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The BSE benchmark-Sensex scaled to a 29-month closing peak during the week on rise in metal, capital goods, PSU and auto counters in view of announcement of good corporate results for the first quarter coupled with sustained FII's buying.

Markets continued to rule firm for the third consecutive week by gaining more than 670 points, or 3.84 per cent on the back of persistent FII's buying.

As per the SEBI sources and the provisional figures of stock exchanges the foreign funds continued their buying spree, as they bought shares worth Rs 1,794.38 crores during the current week.

The BSE benchmark Sensex ended the week at 18,130.98, as against the last weekend's level of 17,955.82, showing a rise of 175.16 points or 0.98 per cent, its highest closing level since Feburary 6, 2008.

The NSE-50 share Nifty also gained by 55.20 points, or 1.02 per cent, to end at 5,449.10 as against the last weekend's level of 5,393.90, its highest closing level since Feb 5,2008.

Markets witnessed some volatality, as traders were engaged in rolling over of their short as well as long positions to the August-series ahead of the expiry of derivatives contract on July 29, leading to see-saw movements.

Interest rate sensitive realty stocks rose on speculation the government will soon announce a hike in foreign direct investment (FDI) in the real-estate sector.

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