Sensex Upbeat on Robust FII inflows – Profit booking at High levels Sensex – Rises 89.63 points


Today the Bombay Stock Exchange (BSE) Sensex opened on a positive note on the back of robust FII inflows in September 2010. The inflows this year exceeded $ 21 billion, which was the highest in any single year based on the forecast of 8.5% growth this year and sustained growth in the next financial year in double digits However at higher levels profit booking has dragged down the Sensex from its intra day high of 20461.27 points to end the day at 20339.89 points with a modest gain of 89.63 points.

Today the Bombay Stock Exchange (BSE) Sensex opened on a positive note on the back of robust FII inflows in September 2010. The inflows this year exceeded $ 21 billion, which was the highest in any single year based on the forecast of 8.5% growth this year and sustained growth in the next financial year in double digits However at higher levels profit booking has dragged down the Sensex from its intra day high of 20461.27 points to end the day at 20339.89 points with a modest gain of 89.63 points. Such correction and consolidation is so necessary for a healthy stock market. During the last 52 week the Sensex saw a high of 20,706.74 and a low 15,330.56 almos 5400 points. This was due to the Foreign Institutional Investors appetite for Indian scrips based on good Good growth rate which is expected to be maintained in the next financial year and also due to IMF study which revealed India's standing as the strongest emerging markets in the world.

The National Stock Exchange (NSE) Nifty closed at 6135.85, a 32.40 point increase or 0.53 percent increase over [revious close. Nifty too went up by almost 1700 points in the last 52 weeks.

In Sensex A Group Rashtriya Chem National Fert Godrej Inds Exide Inds Vijaya Bank were the major gainers and Indiabulls Fin, Bharti Airtel, Biocon Mphasis Indusind Bank being the major losers in Nifty. Likewise, in Nifty also, the major gainers included Tatamotors, Kotakbank. Ster, Ranbaxy and Relinfra, and Nifty Major in the day being Bhartiartl, Axisbank , NTPC, HCL Tech and HDFC Bank.


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