The great gambol run continued on the country’s premier bourses with the blazing bulls on a merry binge for the second consecutive day to send the benchmark sensitive index Bombay Stock Exchange Sensex — BSE Sensex well past the 17,000 mark at the end of trading on Thursday.
Likewise, mirroring the all-round buoyant sentiment that has swept over the country’s capital markets, the broader National Stock Exchange (NSE) benchmark index, NSE Nifty too, surged to soar past the 5,000 level for the first time ever on strong buying support.
While the 30-share Sensex, which had a short shy at 17,000 mark on Wednesday, ended the day scaling a new peak of 17,150.56 after posting a gain of 229.17 points or 1.35 per cent over Wednesday’s 16,921.39 points, for the seventh straight session, the NSE Nifty settled 60.05 points up at a life-time high of 5,000.55 as against Wednesday’s 4,940.50 points.
After opening with a positive gap of 139 points at 17,060 points, the bellwether index gained 237.10 points at 17,158.49 in early morning trade and thereafter gained 253.34 points to record an all-time high of 17,188.40 points before closing at 17,150.56 points.
Frontline counters
The Nifty too surged over 5,000-points mark for first time in early trade, on aggressive buying by foreign and domestic funds. It gained 75.05 points at 5015.55 in the first five minutes of trade and hovered around the 5,000 mark throughout the day to finally close at 5000.55, an increase of 60.05 points from the previous close. The Nifty took 52 days to move from 4,500-5000 level and 203 days to move from 4000-5000.
The rally was largely confined to frontline counters as derivatives series registered a market-wide rollover of over 70 per cent at the concluding day of September contract.
Boosted by strong FII inflows, which has crossed US$11 billion since the beginning of this year, traders rolled over their positions to October F&O series, while making fresh commitments in cash segment as well, market players said. The sentiment has been very positive and liquidity is abundant which has been taking the markets to new heights.
With overseas funds as well as domestic retail investors were seen buying heavily into metal and IT large-caps, metal and technology were the star performers on both BSE and NSE. “The rally has been very fast. But markets should consolidate and settle down at these level,” a market player observed.
JOURNEY of SENSEX
| From |
To |
No. of Trading Days
|
| 16,000 |
17,000 |
7 |
| 15,000 |
16,000 |
52
|
14,0001
|
15,000 |
43 |
| 13,000 |
14,000 |
26
|
12,000
|
13,000 |
132 |
11,000
|
12,000 |
19 |
| 10,000 |
11,000 |
33
|
9,000
|
10,000 |
48 |
8,000
|
9,000 |
54 |
| 7,000 |
8,000 |
55 |
| 6,000 |
7,000 |
1,124 |
