India’s stock market came very close to conquering the 18,000-point milestone but receded on profit booking, only to close the day with a gain of 518 points - its third biggest point-wise rise.
Buying in select heavyweight counters helped the 30-share Bombay Stock Exchange benchmark Sensex to complete one of the best 11-session gaining streaks of the year. It prompted FM P Chidambaram to advise caution to retail investors, although he welcomed the interest shown by FIIs.
FIIs pumped in nearly $4 bn since September 19. The BSE barometer opened firm at 17,467.41 as against Monday’s close of 17,328.62. But it later gyrated in a range of 17,953.07, an all-time intra-day peak and 17,288.41 before ending at a new high of 17,847.04, a rise of 518.42 points or 2.99 pc.
The broader S&P CNX Nifty of the NSE logged a new intra-trade peak of 5,261.35 before concluding at 5,210.80, a gain of 141.85 points against Monday’s close of 5,068.95.
