Press Esc to close
Sunday 22 January 2017
News updated at 5:39 PM IST
Weather
Max: 28.9°C
Min : 15.3°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
Youngstres and Students during the protest to Lift ban on jallikattu and impose ban on PETA...

Youngstres and Students during the protest to Lift ban on jallikattu and impose ban on PETA...

Hot air balloons fly during the 39th International Hot Air Balloon Week in Switzerland...

Hot air balloons fly during the 39th International Hot Air Balloon Week in Switzerland...

An Iranian firefighter removes debris of the Plasco building which was engulfed by a fire...

An Iranian firefighter removes debris of the Plasco building which was engulfed by a fire...

Indian film director and classical dancer, Aishwarya Rajinikanth Dhanush at the Jaipur...

Indian film director and classical dancer, Aishwarya Rajinikanth Dhanush at the Jaipur...

The cast of Kung Fu Yoga, from left, Miya Muqi, Disha Patani, Jackie Chan, Amyra Dastur...

The cast of Kung Fu Yoga, from left, Miya Muqi, Disha Patani, Jackie Chan, Amyra Dastur...

Women take part in the #IWillGoOut rally, to show solidarity with the Women's March in Washington...

Women take part in the #IWillGoOut rally, to show solidarity with the Women's March in Washington...

Archaeological Survey of India workers conducting restoration work at Taj Mahal in Agra...

Archaeological Survey of India workers conducting restoration work at Taj Mahal in Agra...

Military Police Daredevils perform during a rehearsal for the Republic Day parade at Rajpath...

Military Police Daredevils perform during a rehearsal for the Republic Day parade at Rajpath...

An Olive-backed Sunbird feeds its two babies insects in their nest in Klang, Selangor, Malaysia...

An Olive-backed Sunbird feeds its two babies insects in their nest in Klang, Selangor, Malaysia...

Winner of Oriflame Face of North-East-2017 Michelle Kynta (M), 1st runner up Anjusha Saikia...

Winner of Oriflame Face of North-East-2017 Michelle Kynta (M), 1st runner up Anjusha Saikia...

Like us on Facebook

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