Sensex touches new record at 10,706.22
Sensex went past 10,700 mark ending the day at an all-time closing high of 10,626.78.india Updated: Mar 02, 2006 17:33 IST
Driven by increased liquidity, select key stocks on Thursday sustained the post-budget rally lifting the benchmark Sensex past 10,700 mark to touch yet another new record high of 10,706.22 in high volatility as institutional investors heavily pumped in funds in equity.
Foreign Institutional Investors (FIIs) remained heavy buyers in key counters while domestic mutual funds, which are said to be flush with funds, made hectic purchases in blue chip stocks after presentation of the growth-oriented budget.
The Bombay Stock Exchange (BSE) 30-share Sensitive Index (Sensex) fluctuated erratically in a range of 10,706.22 and 10,593.80 on alternate bouts of buying and selling before ending the day at an all-time closing high of 10,626.78 from Wednesday's close of 10,565.47, a net rise of 61.31 points or 0.58 per cent.
FIIs have been consistent net buyers and reported net inflows of over Rs 7600 crore during February. Domestic funds to have turned buyers and made net purchases of more than Rs 277 crore in the last two days of February.
Capital Goods, Bank, Auto and PSU shares were in the forefront following fresh buying support.
Heavyweights like Bharti Tele-Venture, RIL, SBI, ONGC, L&T, ITC, ICICI Bank, Tata Steel, Tata Motors and HDFC Bank scored impressive advances.
However, Infosys Technologies, Grasim, ACC, Cipla, HLL and Dr Reddy's Lab registered marked losses due to profit booking at higher levels.