The Hindu : Front Page : Sensex crosses 8100-mark

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Tuesday, Sep 13, 2005

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Front Page

Sensex crosses 8100-mark

MUMBAI: The Bombay Stock Exchange 30-share sensitive index (Sensex) on Monday surpassed the 8100-level to hit another new peak at 8142.81, extending its winning streak to ninth straight session in the liquid market with a sharp increase in the number of foreign institutional investors registered with the Securities and Exchange Board of India (SEBI).

The Sensex rallied smartly to an intra-trade high of 8142.81 before ending the day at a new closing peak of 8138.42 against Friday's close of 8060.01, a net gain of 78.41 points. The broad-based BSE-100 index rose further by 45.02 points to 4356.39.

The Sensex had gained by 504 points or 6.6 per cent in the nine-day long bull-run between August 30 and September 12.

The FIIs, who reported net investments of Rs. 1,405 crore last week, have preferred India for investments in equity to a few other Southeast Asian countries because of attractive price earning ratio at around 15-20 per cent and strong fundamentals governing the market, brokers said.

Operators and retailers too were believed to be creating positions on expectations of encouraging working results and strong technicals.

Sentiment was also boosted by firm trend in the global markets coupled with a marked rise of 9.3 per cent in the index of industrial production (IIP) during April-July.

Birla group shares Indo Gulf Fert and Birla Global hogged the limelight.

PTI

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