Sensex at new peak of 9,284 points

Finmin's proposal to raise FII investment limit in PSU banks boosts sentiment.

Buoyed by the finance ministry's proposal to raise the FII investment limit in public sector banks to 24 per cent from the current 20 per cent, the markets rallied in late afternoon trades to post robust gains.

The benchmark BSE Sensex ended the week at an all-time high of 9,284.46 points. The index gained 114.06 points during the day. The S&P CNX Nifty closed 31.60 points higher at 2810.15.

After opening with a positive gap of 21 points at 9,191, the Sensex slipped on profit-booking before staging a rally again in late afternoon trade.

The finance ministry announcement had investors back in the fray again, as heightened buying in heavyweight stocks, especially PSU banks, lifted the index. The index moved within a range of 150 throughout the volatile session. It hit an intra-day high of 9,290.31 and a low of 9,137.16.