Day 1: Sensex ends at new high
INDIATIMES NEWS NETWORK DEBIPRASAD NAYAK MUMBAI: The markets moved further up on the back of sustained buying across the board. The mood in the market remained positive on account of strong FII inflows and hopes of better corporate results.
Apart from strong buying in index heavyweights, significant gains in sectors like aluminium, auto, energy, telecom, steel and aluminium also helped the indices to touch new all-time highs.
After touching an all-time intra-day high of 6,684.77 points, the BSE Sensex ended at 6,679.20, gaining 76.51 points. The NSE Nifty also breached the 2,100-mark for the first time and closed the day with a gain of 34.50 points at 2,115.
The BSE PSU index surged 79.42 points or 1.79% to end at 4,505.12 and the BSE Bankex also rose 32.29 points or 0.87% to close at 3,754.26.
The undertone of the market remained extremely bullish amid expectations of strong corporate performances in a fast growing economy. The third quarter results will kickstart later this week and Infosys will be the first IT company to declare its results on January 12. A dip in global oil prices also supported the market sentiment.
Crude oil futures fell below $43 in Asian trade on Monday. New York's main contract, light sweet crude for delivery in February was down 75 cents to $42.70 a barrel from $43.45 in New York Thursday.
The market also hopes that foreign institutional investors will continue to be on a buying spree, after pumping in a record $8.5bn in ’04. India’s weightage in the Morgan Stanley Capital Index (MSCI) is expected to go up, which will help increase FII inflows on the Indian bourses, feel brokers.
Reliance group stocks shrugged off the report that Anil Ambani has resigned as vice chairman and director of the Reliance group company IPCL. Reliance Energy surged 7.14% to end at Rs 561.85. Globeleq, an Actis group power-focused fund, is believed to have shown interest in acquiring a majority stake in three electricity generation facilities of REL.
According to reports, Globeleq has submitted an expression of interest for the three facilities and the due diligence process is under way. The valuation of these facilities is pegged at a little over Rs 1,000 crore.
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The 30-Stock index of the Bombay Stock Exchange (BSE) of India today closed at a new All-time High of 6,679.20, gaining 76.51 points.

Earlier, the index closed at an All-time high of 6602.69 points at the end of Last-week's trading on Friday.

Also, the Delhi-based National Stock Exchange (NSE) Nifty also breached the 2,100-mark for the first time in its trading history and closed at 2,115, registering a gain of 34.50 points over the last week's close.