Sensex Crosses 3900 On Fresh Fii Purchases

Stock markets yesterday witnessed a sharp upswing in trends led by fresh buying by foreign institutional investors (FIIs) in key stocks, particularly in the oil sector. The Bombay Stock Exchange sensitive index crossed the psychological 3,900 mark during intra-day trading, closing yesterday at 3927.71, 66.74 points above the previous close of 3860.97. The Nifty of National Stock Exchange also rose 23.5 points up, closing at 1104.60 against a previous close of 1081.10. A section of the market is of the view that the upswing may not last, and the Sensex may move in a narrow range over the course of the week.

 

While domestic FIs like UTI sold marginally in the early trading hours, they held on to their positions towards the close. Local operators however joined the bandwagon as activity was hectic.

Trading at the bourses was sharp, sources said. Hotel, steel and refinery stocks witnessed a sharp trading interest. NSE clocked trading of Rs 1,612.41 crore yesterday with 6 crore shares traded. BSE recorded a turnover of Rs 770.14 crore for the day with A group scrips accounting for Rs 716.87 crore.