SENSEX Surges to dizzy heights by 485 Points


TheBombay Stock Exchange (BSE) today witnessed buying in all the sectors with the Benchmark Index more popularly known as Sensex> reached a level of 20687.88 points or 2.4 percent or 484.54 points over Tuesday's close at 20203 points The increase in points was the highest seen during last 33 months

TheBombay Stock Exchange (BSE) today witnessed buying in all the sectors with the Benchmark Index more popularly known as Sensex reached a level of 20687.88 points or 2.4 percent or 484.54 points over Tuesday's close at 20203 points The increase in points was the highest seen during last 33 months There was hectic activity throughout the trading hours in almost all sectors, the notable among them being IT, Realty, Tech and Banks.

The reason for such a surge could be mainly attributed to the Foreign Institutional Investors (FIIs) flow. On October 13,2010 FIIs, in both NSE and BSE, taken together made a net purchases of scrips to the extent of Rs 2102.95 crores. they made a combined purchase of Rs 5833.71 crores and sales of Rs 3730.76 crores. Against this the domestic institutional investors (DIIs) made a sale of Rs 2696.31 crores against a purchase of Rs 1341.50 crores, resulting in a net sale of Rs 1354.81 crores, as per data released by the National Stock Exchange.

The Nifty opened from the opening trade itself never looked back, The Nifty which opened at 6091.45 points and low of 6089.75 touched a high of 6240.25 points before closing at the end of the day at 6233.90, thereby recording 143 points increase a gain of 2.35 percent over the previous day's closing. With the bulls back on the bourses and the unsatiable appetite of the FIIs on Indian scrips, the market is likely to see dizzying heights before Diwali this year at 21000 points and who knows thereafter to 22,000 or 25000 by year end!


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