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Stocks surge further as FIIs play on

business Updated: Sep 27, 2010 20:58 IST

The Sensex at the Bombay Stock Exchange (BSE) and the Nifty at the National Stock Exchange (NSE) surged further on Monday to close at new 32- month highs of 20,117.4 and 6035.7 respectively, as foreign institutional investors (FIIs) sustained buying.

The Sensex is now just 3.6 per cent short of its all-time closing high of 20,873.3 on January 8, 2008. The FIIs pumped in another R1,339 crore on Monday taking the September count to R22,776 crore, which is the second highest net monthly FII flow ever and only R1,096 crore short of the record monthly FII inflow of R23,872 crore witnessed in July 2007.

Trading started on a strong note in the new week, and the Sensex rose by 222.8 points intraday but as profit-booking continued through the day, it closed with a moderate gain of 72 points or 0.4 per cent on Monday.

Metal and consumer durables emerged as biggest gainers during the day as their indices at the BSE rose by 2.2 per cent and 1.6 per cent, respectively.

On the other hand, fast moving consumer goods and information technology sector indices dropped marginally.