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Sensex touches new highs, ends at 6892.82 points
By agencies
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Wednesday, 09 March 2005, 20:30 IST
MUMBAI: Riding high on unabated Foreign Institutional Investors (FII) inflows, the Sensex today once again hit new all-time peaks of 6954.86 in early trade before ending 22 points down due to profit taking by operators in highly volatile trade.
The Sensex snapped a five-session string of rallies that created new records every day driving it past the 6900-level and notched up a massive gain of 264 points.
FIIs, which have pumped in huge funds during last week, remained active in the market and were believed to be heavy buyers in select heavyweights even as operators and retailers booked profits.
Despite an overdue correction, the outlook for the market remained distinctly positive in view of rising FII inflows, mainly from newly registered foreign funds, into the fledgling economy, stockbrokers said.
Starting on a weak note at 6895.62, the Bombay Stock Exchange (BSE) Benchmark 30-share Index touched an early peak of 6954.86 but later succumbed to heavy profit selling, particularly towards the fag end of session and ended the day at 6892.82 as against yesterday's close of 6915.09, a net fall of 22 points or 0.32 per cent.