Sensex pierces 9,000

Investors' wealth swells to Rs 2,40,900 crore; Stock indices at historic high.

The 30-share BSE Sensex touched the 9,000 mark today to create history before retracting to end the day at 8994.94, gaining 105.91 points or 1.1 per cent.

Today's gains came on the back of firm trends in global markets. While key US indices and UK's FTSE 100 share index are already at a four-year high, Japan's Nikkei topped 14900 points for the first time since December 2000.

The index had crossed the 9,000 mark in afternoon trades to post an intra-day high of 9005.63. The S&P CNX Nifty gained 28.55 points to end at 2712.00, also a life-time high.

The Sensex has gained more than 100 points in four of the past five sessions, taking the cumulative gains in the last five sessions to 459.97 points or 5.30 points. Over the last five session, the investors' wealth has risen by Rs 11,000 crore to touch Rs 2,40,900 crore today.

The current rally follows a sharp decline in stock prices for much of October, when the Sensex slumped more than 1100 points. According to S A Narayan, managing director of Kotak Securities, the biggest reason for the recent surge in market sentiments have been the FII and domestic fund inflow.

The FIIs have been net buyers for the past eight sessions in Indian equities. Their total investments this month (till November 24) amount to Rs 2877 crore or $643 million.

Domestic funds have been net buyers in the past five sessions and have purchased Rs 408 crore in equities in November.

Out of the 30 Sensex stocks, 27 gained today led by FMCG major HLL which was up 3.73 per cent at Rs 191.95, BHEL (up 3.05 per cent at Rs 1467.75), Bajaj Auto (up 2.67 per cent at Rs 2119.70) and Tata Motors (up 2.53 per cent at Rs 586.80) were the other big gainers. Bharti Tele, Hero Honda and ICICI Bank were the only losers among Sensex stocks.

All the sectoral indices finished with gains today. The BSE Capital Goods Index was the biggest gainer up 2.71 per cent, followed by BSE Consumer Durable index 2.46 per cent. FMCG, oil & gas, power, construction, auto, cement and hotel stocks were among the big gainers. Advances outnumbered declines at 1440-1055 while 79 scrips remained unchanged.

BSE clocked a turnover of Rs 3,248 crore today, bettering Friday's figure of Rs 2,736 crore.

"Overall, the trend is positive. However, there is always a chance that the markets could see a correction, especially since the markets are at an all time high levels. Equities should deliver 12 - 15 per cent return going forward," a fund manager said. 

MANY MORE PEAKS TO CONQUER
	Price		% Chg
	8-Sep-05	28-Nov-05
Gainers
Bajaj Auto	1535.85	2119.69	38.01
BHEL	1093.65	1467.75	34.21
Larsen & Toubro	1327.50	1714.15	29.13
Maruti Udyog	501.85	632.45	26.02
Satyam Computer	532.79	662.75	24.39
Losers
Ranbaxy Laboratories	540.25	380.05	-29.65
Tata Steel	407.75	344.55	-15.50
Hindalco	138.51	126.80	-8.45
Reliance Energy	589.00	576.79	-2.07
Tata Power	461.75	458.05	-0.80