FIIs, MFs keep Sensex on a high

STOCK REPORT

Driven by increased liquidity, select key stocks on Thursday sustained the post-budget rally lifting the benchmark Sensex past 10,700 mark to touch yet another record high of 10,706.22 in high volatility as institutional investors heavily pumped in funds in equity.

Foreign institutional investors (FIIs) remained heavy buyers in key counters while domestic mutual funds, which are said to be flush with funds, made hectic purchases in blue chip stocks after presentation of the growth-oriented budget.

The Sensex fluctuated erratically in a range of 10,706.22 and 10,593.80 on alternate bouts of buying and selling before ending the day at an all-time closing high of 10,626.78 from yesterday's close of 10,565.47, a net rise of 61.31 points or 0.58 per cent.

FIIs have been consistent net buyers and reported net inflows of over Rs 7,600 crore during February. Domestic funds too have turned buyers and made net purchases of more than Rs 277 crore in the last two days of February.

Capital goods, bank, auto and PSU shares were in the forefront following fresh buying support.

Heavyweights such as Bharti Tele-Venture, RIL, SBI, ONGC, L&T, ITC, ICICI Bank, Tata Steel, Tata Motors and HDFC Bank scored impressive advances.

However, Infosys Technologies, Grasim, ACC, Cipla, HLL and Dr Reddy's Lab registered marked losses owing to profit booking at higher levels.

In sectorial indices, the BSE CG Index spurted by 122.29 points or 1.61 per cent to 7,716.32 from last close of 7,594.03. The Bankex ended up by 68.32 points or 1.31 per cent to 5,287.16, the BSE PSU Index by 59.57 points or 1.05 per cent to 5,738.31 and the BSE Metal Index by 89.46 points or 1.20 per cent to 7,519.37.

The broad-based BSE-100 Index firmed up by another 35.82 points to 5,559.51 from previous close of 5,523.69.