The Hindu : Business : Sensex closes at new peak of 10804

Online edition of India's National Newspaper
Tuesday, Mar 14, 2006

Business

Business

Sensex closes at new peak of 10804

MUMBAI: Sustained buying by foreign and domestic funds on Monday helped the Bombay Stock Exchange benchmark Sensex post gains for the third straight session and close 39 points up at a new closing peak of 10,803.71, despite profit taking at higher levels.

The 30-share sensitive index (Sensex) hit a new intra-trade record high of 10,884.48.

The Sensex, however, met with fairly strong resistance and dropped to the day's low of 10,782.53 before closing at 10,803.71 against last Friday's close of 10,765.16, a net gain of 38.55 points.

Operators and retail investors took profits at higher levels, adopting a cautious approach in view of concerns that the stock market could witness liquidity crunch during mid-March owing to the advance tax flows.

Meanwhile, FIIs reported inflows of Rs. 1,095 crore in equity in the first four days of last week while mutual funds made net purchases of Rs. 864 crore in the same period.

Reliance Communications Ventures (RCoVL) once again hogged the limelight and were quoted sharply up in brisk activity prompted by the company's decision to merge Reliance Infocomm with itself.

Key counters such as Infosys, L&T, HDFC Bank, TCS, SBI and Tata Steel scored impressive gains. — PTI

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