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Sensex surges, hits 8,400 mark
By agencies
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Monday, 19 September 2005, 19:30 IST
MUMBAI: After touching record height, the Bombay Stock Exchange today crossed the psychological 8,400-point mark within minutes after the commencement of the trading.
The benchmark 30-share index scaled a new all-time intraday high of 8,419.41 on the back of robust buying interest in a number of pivotal stocks across various sectors.
The markets opened on a firm note today while continuing with the record-breaking surge being witnessed on the bourses. But there may be some caution after the government announced plans to increase its monitoring of the market and the Left parties accusing the sensex surge to stock market scam.
The market sentiments gained support in morning trade from continuing strength in inflows from FIIs and an uptrend in the buying activities by the domestic mutual funds. The recent Sebi decision to permit full access to mutual funds to the F&O segment has also boosted the market sentiments.
A robust performance from Indian ADRs on Friday last week also boosted the positive momentum on the bourses. Among the Indian ADRs, Dr Reddy's Labs, HDFC Bank, ICICI Bank, Infosys, Satyam Computer and Tata Motors moved higher, while Wipro closed in negative territory on Friday.