Mumbai: It was bloodbath on the Dalal Street on Friday as the BSE Sensex soared to a historic high to close at a new peak of 9,870.79.
Tracking the strong global trend, the Sensex took a big leap by 185 points and soared past 9,800 level for the first time to hit new peaks, riding high on domestic liquidity while Foreign Institutional Investors slowed down inflows.
The bank, consumer goods and metal shares were the most sought after lot during the trading session.
The Bombay Stock Exchange (BSE) Benchmark 30-share Index (Sensex) opened with a gap of about 79 points and later shot up to an all-time intra-trade high of 9,883.95 in brisk trade bolstered by a sharp upsurge in Asian markets.
Later, it ended the day at a new record peak at 9,870.79 against Wednesday's close of 9,685.74, a net rise of 185.05 points or 1.91 per cent. The Sensex has risen by 406 points or 4.29 per cent in the last three trading sessions.
Buying was seen in ICICI Bank, SBI, Tata Steel, Hindalco, HLL, Dr Reddy's Labs, Reliance Energy, L&T, TCS, HDFC Bank, Reliance, Wipro, Tata Tea, GSK Pharma, Jet Airways, VSNL and Tata Chemicals.
Experts believe that markets are in a bullish trend, and one must go long on the Nifty.
"I am almost sure this wave can take markets to 10,000 mark, we had a slight correction of about 500 points, but this rally is really being driven by results," investment advisor P N Vijay said.
"The market is punishing those who have come out with indifferent results like Reliance, Infosys and Grasim," P N Vijay added.
The hotels stocks have also been buzzing over the last couple of days. CNBC-TV18's research analyst Rahul Arora, puts it to increase in demand over supply in the hotel industry.
The sensex had witnessed an impressive rally and gained by 136 points to set new records on January 25, the last day of derivatives contract.
Domestic mutual funds, particularly private institutions, were engaged in across-the-board purchases at a time when FIIs had slowed down investments in equities, brokers said.
Operators and retail investors joined the bandwagon and also were seen covering their short positions, they added.
In Asian markets, the Nikkei ended up by 569.66 points, the Hang Seng by 233.07 points, the Taiwan by 80 points and the Kospi by 31.81 points.
(With PTI inputs)
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