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Sensex surges on FII buying
MUMBAI:
Taking a cue from firm Asian markets, the stock market on Wednesday surged to a strong finish at 10876.19, an impressive rise of 125 points, riding high on increased activity by institutional investors.
Initially, touching a low of 10730.13, the Bombay Stock Exchange 30-share sensitive index later turned better and gradually moved upwards to 10891.38, before ending the day at 10,876.19 against Tuesday's close of 10751.66, a net gain of 124.53 points or 1.16 per cent.
The National Stock Exchange S&P CNX Nifty also gained by 34.30 points or 1,09 per cent to 3182.10 from the previous close of 3147.80.
Foreign Institutional Investors and local mutual funds were believed to be engaged in across-the-board buying support, with their focus on frontline counters.
FIIs, which have been consistent net buyers since last week, pumped in about Rs. 100 crore in derivatives on Tuesday but were negative in the cash.
In the Asian markets, the Hang Seng ended moderately higher by 121.38 points, the Nikkei by 23.38 points, Singapore ST by 8.95 points and Kospi by 7.75 points. — PTI
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