The Hindu : Business : Sensex crosses 11700-mark

Online edition of India's National Newspaper
Thursday, Apr 06, 2006

Business

Business

Sensex crosses 11700-mark

MUMBAI: The Bombay Stock Exchange benchmark 30-share index (Sensex) on Wednesday extended its rally to third straight day, rising by a hefty 109 points to one more closing peak of 11,746.90, driven by mind-blowing fund inflows into equity.

The Sensex has gained 467 points or 4.14 per cent in the last three days and completed its 1,000-point journey in just 18 days. It had ended the day at 10,573.54 on March 9.

The stock market disregarded a required correction and continued its upward march, following unabated and heavy buying support from domestic mutual funds, which were believed to be aggressive buyers during the day. The Sensex opened strong at 11,671.14 and generally moved upwards to an all-time intra-trade high of 11,755.20 before closing at a new peak of 11,746.90 against 11,638.01, a net rise of 108.89 points. Institutional buyers were more aggressive in small-cap and mid-cap segments.

Foreign institutional investors, however, seemed to have slowed down their inflows. They pumped in Rs. 477.90 crore in equity on April 3 while mutual funds reported net purchases Rs. 214 crore on the same day.— PTI

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