The BSE benchmark Sensex on Tuesday gained 43 points in a successive eighth day rally, the longest winning streak this year, as the market absorbed profit booking pressure triggered on weak Asian and European cues.
In volatile trade, the Bombay Stock Exchange (BSE) barometer opened firm at 15,478.53 points and touched an intra-day high of 15,521.48 on the back of strong economic growth and low inflation rate. It, however, pared the gains on late selling pressure and ended at 15,465.40 points, registering a net rise of 43.35 points or 0.28 per cent over Monday’s close of 15,422.05. The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) advanced by 4.50 points or 0.10 per cent to close at 4,479.25 from previous close of 4,474.75.
Domestic Institutional Investors were believed to be consistent buyers even at the prevailing levels but foreign funds seemed reluctant after pumping in about Rs 1,095 crore in the last two days, including Monday’s provisional numbers. Market players credited the surge to the better-than-expected GDP growth of 9.3 pc in the April-June quarter as well as inflation rate sliding below four per cent.