Press Esc to close
Saturday 18 April 2015
News updated at 8:45 AM IST
Weather
Max: 33.4°C
Min : 21.6°C
In Bengaluru
Sunny day

Sensex beats slump, hits all-time high

Mumbai, Nov 1, 2013, DHNS:
A share broker celebrates after Sensex surged to 21293, in Bhopal on Friday. PTI Photo

The country’s top market sprang a surprise on Friday, with Sensex touching a record high in the midst of prolonged economic slowdown.

The BSE index hit a high of 21,293.88 during the day, though it closed at 21,196.81. The previous record high was over five years ago, on January 10, 2008, when it touched 21,206.77.

However, NSE index, Nifty, did not reflect the Sensex rise. Nifty recorded 6,332.60 during the day,while the record high of 6,357 was witnessed on January 8, 2008.

The euphoria during the peak of the previous bull market in 2008 was missing this time and investors were cautious.

Profit taking pared much of the gains in late morning trades, as investors booked profits at higher levels in index heavyweights. Consequently, both major premium indices of the BSE and the NSE closed with modest gains.

Analysts maintain that the current rally, which has propelled the index to its all-time high, is driven by liquidity rather than earnings growth and retail participation being still low.

Foreign Institutional Investors (FIIs) have been aggressive buyers in Indian equities as they were net buyers for the 18th straight day during October. FIIs bought shares worth a net Rs 1,961.20 crore from the secondary equity markets on Thursday, as per Sebi data.  With this, they have pumped in more than Rs 86,000 crore in Indian stocks in calendar 2013.

Unlike in the last few sessions, midcap and small cap shares were in demand this day. However, the BSE midcap and small cap indices closed with a gain of 1.15 and 0.74 per cent to close at 6,177.40 and 5,939.60 points respectively.

They are still 40 per cent and 58 per cent away from their record highs seen in January 2008, and investors are betting that these stocks are attractively valued compared to their large cap counterparts which have had a fabulous run in the last couple of months.


Go to Top

Photo Gallery
Taragarh Fort overlooking the city on the eve of World Heritage Day...

Taragarh Fort overlooking the city on the eve of World Heritage Day...

Narmada Bachao Andolan activists during their 'Jal Satyagrah' in Khandwa...

Narmada Bachao Andolan activists during their 'Jal Satyagrah' in Khandwa...

Teena Ponnappa poses at the “Crafts Glory” an exhibition cum sale of Handicrafts and Handlooms...

Teena Ponnappa poses at the “Crafts Glory” an exhibition cum sale of Handicrafts and Handlooms...

Aishwarya Rai and Malayalam actress Manju Warrier at the inauguration of a jewellery shop in Chennai

Aishwarya Rai and Malayalam actress Manju Warrier at the inauguration of a jewellery shop in Chennai

Sachin Tendulkar during the IPL T20 match between Mumbai Indians and Chennai Super Kings in Mumbai..

Sachin Tendulkar during the IPL T20 match between Mumbai Indians and Chennai Super Kings in Mumbai..

Sahara Force India Mexican driver Sergio Perez steers his car during a practice session...

Sahara Force India Mexican driver Sergio Perez steers his car during a practice session...

A heap of wheat getting damaged with rain water in Hisar on Friday...

A heap of wheat getting damaged with rain water in Hisar on Friday...

Tigers at the Ranthambore National Park in Sawai Madhopur, India...

Tigers at the Ranthambore National Park in Sawai Madhopur, India...

Civic workers sweep at a lawn near India Gate in New Delhi on Friday...

Civic workers sweep at a lawn near India Gate in New Delhi on Friday...

Policemen fire teargas shells towards protesters during an agitation against the arrest...

Policemen fire teargas shells towards protesters during an agitation against the arrest...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523