FII on Buying Spree
FII started buying suddenly on Friday and DII was also on the optimism of India Inc’s hope of significant improvement in First Quarter of FY10 margins.
The BSE 30-share barometer gained 3.47 per cent over its previous close. Sensex, jumped 494.67 points to a two-week high of 14744.92. The National Stock Exchange’s 50-share Nifty also spurted by 143.55 points or 3.39 per cent to close at 4374.95.
The revival in monsoon with good rainfall in some parts of the country also contributed to the bull-run.
The market witnessed all round buying with FIIs shifting their focus to the small-cap and mid-cap segments.
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