In a highly volatile movement the BSE Sensex, on Monday, crossed the 22000-mark during intra-day, for the first time, but closed with a small gain of 15 points at 21934.83 on profit booking. . Foreign institutional investors (FIIs) continued to pour in money into the Indian market, analysts said.
The NSE Nifty too surged to its all time high of 6561 points during intra-day before closing with a gain of 10.60 points at 6537 points.
The top Nifty gainers included IDFC, Kotak Bank, IndusInd Bank, JP Associates and Maruti while the top Sensex gainers included Maruti, M&M, L&T, HDFC Bank and SBI. RIL which had surged 4 per cent at one stage, closed with a gain of 1.93 per cent. “The benchmark indices, after making a sluggish start, were seen resuming the uptrend on Monday. However, the day was devoted to stock specific move with noticeable buying in cash segment.
Sentiments remained jubilant after the Finance Minister emphasised that the economy is presently more stable as the fiscal and current account deficits are under control.
Consistent buying from FIIs in the last two weeks is also boosting the investors’ sentiments,” Jayant Manglik, President-retail distribution, Religare Securities, said.
“In the last five sessions, Nifty has gained more than five per cent and almost on the verge of touching the major hurdle at 6600. Hence, we can’t ignore the possibility of profit taking in the near future,” he added.
Rupee at 7-month high The Indian rupee, on Monday, reaped handsome gains as FIIs pumped in dollar to buy stocks. The rupee, which recovered from day’s low of 61.33, touched the day’s high of 60.80 a dollar, its seven month high. It, however, closed at 60.85, up 22 paise.
