The Hindu Business Line : Sensex hits new high on fund buying

Bull run on the stock markets continued during the shortened trading session on Saturday with the BSE-30 Sensex closing at a new all-time high on renewed buying by foreign funds, which made its biggest single day net investments during this calendar at Rs 2,513.80 crore on Friday.

The key BSE-30 Sensex closed at 12,042.56, a gain of 190.63 points from Friday.

The previous highest closing was 12,039.55 points, recorded on April 20.

All the other indices also gained by over 1.5 per cent (except the BSE PSU index, which rose by 1.13 per cent), but the BSE Mid-Cap and Small-Cap were the biggest gainers.

The BSE Mid-Cap index rose by 144.34 points (2.53 per cent), while the BSE Small-Cap index ended higher by 191.17 points (2.65 per cent).

Cement, metals gain

Cement and metal stocks were the most sought after shares on expectation that prices of the commodities would remain firm, boosting profits, dealers said.

The market breadth also remained strong with an overwhelming 1,885 stocks (77.06 per cent) of the top 2,446 stocks in BSE ending higher during the four-hour trading session that began at 10.30 a.m. to test new trading system software.

The S&P CNX Nifty index was up 49.25 points (1.40 per cent) to end at 3557.60 points.

Dealers said foreign funds used the window offered by the market fall on Friday in the wake of the SEBI order on the IPO scam to enter in a big way at lower levels.

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