Mumbai, Aug. 3
STOCK markets rewrote records yet again on Wednesday, with the Sensex breaching the 7,800-level. At its highest point, minutes after the opening bell, the Sensex had gained 88 points to touch its intra-day high of 7,843.77.
Though it managed to stay in the green all morning, profit-booking dragged the Sensex down. At the close of trade, however, the 30-stock benchmark index was flat from Tuesday's close, registering a mere 0.43-point rise at 7,756.47.
The Nifty, however, traced a volatile pattern on Wednesday, ending trade with a gain of 3.35 points at 2,357, after touching an intra-day high of 2,377.
Today's rise to the 7,800-plus level is attributed to confidence arising from continued FII participation.
The Reliance scrip, which was hinging on an expected acquisition announcement by the Chairman, Mr Mukesh Ambani, slumped when no definite announcements were made.
Investors were also expecting dividends or a bonus announcement on the scrip. The scrip, which opened at Rs 741.95, slid to Rs 713.70 at the close of trade, netting a loss of 3.81 per cent. Volumes were high at this counter; BSE reported total turnover of 1.36 crore today. All other Reliance group shares also closed in the red.