The Hindu : Business : Sensex breaches 8800-mark

Online edition of India's National Newspaper
Wednesday, Oct 05, 2005

Business

Business

Sensex breaches 8800-mark

obust economic fundamentals amid sustained FII inflows act as a trigger

MUMBAI: Punters in the capital market are enjoying an extended dream run, with the Bombay Stock Exchange's benchmark index breaking the 8800-mark barrier and reaching a new high on Tuesday, spurred by robust economic fundamentals amid sustained foreign institutional investment inflows.

After crashing to 8186.13 on September 22, the 30-share Sensex, the stock market barometer, kept up the bullish tempo and spurted by a steep 623 points or eight per cent in seven days to hit an intra-trade high of 8808.83 mainly driven by a surfeit of liquidity.

The Sensex also ended the day at a new closing peak of 8799.96 against yesterday's close of 8697.65, a net gain of 102.31 points or 1.18 per cent.

43 block deals

Major block deals including shares of heavy-weights Hindustan Lever, NTPC, ITC, Tata Tea, East India Hotels and Zee Telefilms took place as the Sensex crossed the 8800-mark for the first time ever. The biggest block deal was witnessed in HLL with 72.2 lakh shares changing hand in one go at a price of Rs. 185.50 a share amounting to Rs. 139.97 crore. — PTI

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