Business Today

Sensex scales 33-month high on FII inflow

The 30-share index shot up 135.37 points to close at 20,543.08, a level not seen since Jan 2008, as foreign funds bought more equities in the 24th straight-session.

twitter-logoPTI | October 6, 2010 | Updated 16:56 IST

The Bombay Stock Exchange benchmark Sensex on Wednesday scaled to a fresh high in 33 months on strong foreign fund's inflow based on optimism on encouraging quarter earnings by corporates.

The 30-share index shot up 135.37 points to close at 20,543.08, a level not seen since January 2008, as foreign funds bought more equities than they sold for the 24th straight-session.

The benchmark touched a day's high of 20,669.95.

The second broad-based National Stock Exchange index Nifty shot up 40.65 points to end at 6,186.45, after touching 6,223.40 at the outset.

In the BSE index components, 20 stocks ended with gains and ten declined on profit-booking.

While the two most-heaviest, with their 23 per cent weightage, on the Sensex - Reliance Industries and Infosys Technologies - spurted on investment buying, the most battered realty sector stocks regained strength after a Morgan Stanley-backed Oberoi Realty began selling shares in an initial public offering.

Reliance Industries spurted Rs 21.35 to Rs 1,044.60, and software exporter Infosys Technologies went up Rs 17.65 to Rs 3,101.70.

The realty-sector index gained the most by adding 2.75 per cent to 4,015.82, as Jaiprakash Associates, a builder of dams, roads and bridges rose Rs 8.65 to Rs 137.95 and DLF Ltd Rs 2.80 to Rs 392.75.

The realty sector also boosted on reports that the Department of Economic Affairs is seeking to allow borrowers to raise funds annually in global markets for financing projects.

Trading sentiment further bolstered on reports of a firming trend in Asian region and higher opening in Europe this afternoon, after US Federal plans to take more measures to boost the economic growth.

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