Sensex Inches Towards 4000 On Fii Buying

The 30-share BSE sensitive index continued to move up, fuelled by persistent buying by FIIs. The sensex yesterday gained 55.24 points over its previous close of 3927.71 to close the day at 3982.95.

The market opened on a buoyant note and the sensex was edging towards 4,000 till profit booking by institutions at higher levels brought the index down to 3960 in mid-session. The market is likely to witness hectic profit-booking by FIs today.

Hectic trading was witnessed in pivotals like SBI, Tata Electric, Tata Tea, Bajaj Auto, ICICI, L&T, M&M and Escorts. Among the pivotals that touched their 52-week highs were BPCL, HDFC, Hindustan Lever, Hindustan Petroleum Corporation, ITC, Lakme, Reliance and SmithKline Beecham.