Business Daily from THE HINDU group of publications
Tuesday, Nov 14, 2006
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Business Daily from THE HINDU group of publications Tuesday, Nov 14, 2006 ePaper |
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Stock Markets Markets - Foreign Institutional Investors Our Bureau
Mumbai , Nov 13 Strong FII inflows and increased retail investor participation in the equity markets drove the BSE Sensex by 116.09 points to a record 13,399 on Monday. The bellweather index touched a new intra-day high of 13,410, piggybacking on banking and IT stocks. The S&P CNX Nifty index closed for the day at 3858.75, up 24 points or 0.63 per cent. "Counters of banking and IT stocks witnessed heavy rush today,'' said a dealer at Edelweiss Capital. Counting out the BSE Metal index, the day was good for all other indices, with some gaining by 1.20 per cent over Friday's close. "Fears of sliding operating margins and sluggish movement of metal stocks over a period of time went against the index. Investors are increasingly turning against metal stocks,'' said a dealer.
Positive breadth
According to market analysts, the breadth of the market was positive. Of the 2,626 stocks traded on the BSE, 1,474 stocks advanced, 1,080 stocks declined and 72 stocks ended unchanged. As per provisional data available, FIIs were net buyers on the BSE and NSE to the tune of Rs 445.83 crore on Monday.
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