Sensex ends at 10,082.28, up 102 pts
FM also responded positively saying the Sensex reflected the business confidence and strong economic fundamentals.india Updated: Feb 07, 2006 17:43 IST
Maintaining its upward march, Bombay Stock Exchange Sensex on Tuesday soared by another 102 points to end above 10K mark at 10,082.28 for the first time in its history, on consistent buying support as the government projected a higher economic growth of 8.1 per cent for this fiscal.
The BSE's benchmark 30-share Index (Sensex) climbed to an all-time intra-day peak of 10,099.58 before ending the day at a new record high of 10,082.28, a net rise of 101.86 points or 1.02 per cent over Monday's close of 9,980.42.
Enthused by sustained purchases by Foreign Institutional Investors (FIIs) and impressive economic growth projections, bulls tightened their grip over the market, driving it higher by 339.70 points or 3.49 per cent in two sessions.
Foreign Institutional Investors (FIIs), which have been consistent net buyers since January 31, reported hefty net investments of Rs 626.5 crore on February three.
Finance Minister P Chidambaram also responded positively saying the Sensex reflected the business confidence and strong economic fundamentals while advising investors to take informed decisions or invest through mutual funds.
Meanwhile, the bullish trend is termed as a pre-budget rally by brokers, admitting that FIIs have been hedging their positions in the Futures while pumping in the proceeds in the Cash segment ahead of the forthcoming budget.
As per figures released by the Securities and Exchange Board of India (SEBI), FIIs have pull out over Rs 750 crore in the futures on February three.
First Published: Feb 07, 2006 11:04 IST