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Sensex on record-breaking spree, hits 8,100
By agencies
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Monday, 12 September 2005, 19:30 IST
MUMBAI: The northward record-breaking rally is continuing for yet another day in the markets. The benchmark 30-share benchmark BSE Sensex jumped to yet another record high above the 8,100 mark within minutes after the trading session commenced, while NSE Nifty jumped to a new record high as well in the intraday trade.
Markets opened on a firm note on Monday, as continuing strength in the FII inflows boosted further the positive sentiments on the bourses. According to the Sebi figures released on Friday, FIIs purchased shares worth a massive Rs 5.43 billion on Thursday, September 8, 2005, on which day the Sensex soared 106 points to a record high above the 8,000-point mark.
However, the market observers have warned that potential profit booking at the current high levels might cap the upward movement on the bourses. The analysts expect the mid-cap stocks to particularly witness some selling pressure in the recent past, after a sharp northward rally in the recent past. The markets had ended nearly flat on Friday last week, a day after Sensex surged more than 100 points to breach the 8,000 level for the first time in history.
The BSE Sensex surged past the 8,100 mark immediately after the trading commenced on Monday, after opening 12.98 points higher at 8,072.99. The 30-share benchmark index surged to a new intraday record high of 8,119.78 in early morning trade.
The NSE Nifty also moved higher after opening 0.40 points up at 2,455.85.
IT and pharma majors posted robust gains in the early morning trade. However, selective profit booking was witnessed in the two sectors by mid-day trade.