Sensex hits new peak at 10,195.51 points
In highly volatile trading, Sensex shot up to a new peak surpassing the previous high of 10,195.42.india Updated: Feb 21, 2006 17:55 IST
In highly volatile trading, the Bombay Stock Exchange's Sensex on Tuesday shot up to a new peak of 10,195.51 points, surpassing the previous high of 10,195.42 and closed 88.81 points higher at 10,168.11 on heavy buying activity.
Trading activity remained very volatile as operators indulged in heavy shortcovering ahead of the expiry of the February contract on Thursday in the futures market.
The BSE 30-share index opened firm at 10,108.16 as against the previous close of 10,079.30 and shot up to a new life-time intra-day high of 10,195.51. Later, the Sensex eased marginally and closed at 10,168.11 points, revealing a handsome gain of 0.88 per cent.
Foreign Institution Investors (FIIs) who sold shares worth around Rs 560 crore during the early part of last week, re-entered into the market and made a net investment of Rs 591.50 crore in the last two days of the previous week.
The market sentiment was also boosted by expectations of a market-friendly budget to be announced next week.
Though the index-heavyweights like RIL and Infosys Tech were in the red, smart rise in shares from Auto, Healthcare, Capital Goods and Metal segments helped the index to close with handsome gains.
The major gainers were Bajaj Auto, Hero Honda, Tata Motors, Dr Reddy, Ranbaxy, L&T, BHEL, Tata Steel, Satyam Computers, TCS, HDFC, SBI, Tata Power and ONGC.
However, RIL, Infosys Tech, Grasim, HLL, ICICI Bank and ACC lacked necessary support and remained weak.