SENSEX, NIFTY CLIMB NEW PEAKS

The stock markets remained bullish and climbed new peaks on day-to-day basis in the week under review amid indications of a sharp downward correction ahead as the valuations looked stretched.

In the last nine days (including five days of the week) the bull-run was mind-boggling. The Bombay Stock Exchange (BSE) barometer completed the fastest 1,000-point journey in just six days and gained 1,787 points or 11.5 per cent during the strongest rally beginning September 18.

The 30-share BSE index ended the week at 17,291.10 against previous weekend's close of 16,564.23, a rise of 726.87 points or 4.39 per cent in the week ended September 29.

Similarly, the broader S&P CNX Nifty of National Stock Exchange (NSE) crossed the 5,000-points level and closed the week at a new closing peak of 5,021.35, a jump of 183.80 points or 3.8 per cent over previous weekend's close of 4,837.55.

The unprecedented surge was credited to a dramatic rise in FII inflows after the US Federal Reserve lowered interest rates on September 18.

Foreign Institutional Investors (FIIs) poured in more than USD 3 billion (Rs 13,600 crore) since September 19. This week's inflows stood at about USD 2 billion (Rs 8,500 crore) including the provisional number of Friday.

Analysts expect a downward correction after a phenomenal rise in share prices in a short period, while investors seemed optimistic about another rate cut by the Fed next month in the light of release of data showing sluggish housing sales and consumer confidence in the US.

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SENSEX BREACHES 17K LEVEL IN ITS FASTEST 1,000-POINT RALLY

The stock market continued its record-breaking run today with the BSE Sensex breaching the 17,000 mark for the first time in its fastest 1,000-point rally as foreign funds stepped up purchases of local shares.

The 30-share index, however, failed to hold on to the early gains and closed at 16,921.39, still higher by 21.85 points from the previous close, as investors booked profit.

Profit-booking sparked as the Sensex crossed the 17,000-point level, covering the last 1,000 points in just six trading sessions. It touched an intra-day high of 17,073.87, and a low of 16,887.07 points.

In similar fashion, the National Stock Exchange's index Nifty closed higher by 1.65 points at 4,940.50, after touching a record high of 4,980.85 and day's low of 4,930.35 points.

A steep fall in Reliance Industries, the country's biggest firm by market value, mainly drove the Sensex down. The RIL scrip, which has about 15 per cent weightage in the Sensex, fell after reports that the company may put on hold investment plans to expand retail venture in Uttar Pradesh.

Oil and gas index dropped by 160.57 points at 9,616.94, followed by realty index by 112.09 points at 8,973.38. Capital goods index lost 109.26 points at 14,654.35 and auto index ended lower by 35 points at 5,215.27.

Major support to the market came in from the bank index, which rose 172.82 points at 9,117.80. This was followed by IT index by 153.35 points at 4,501.97. PSU index gained 80.39 points at 8,055.51 and teck index rose 69.05 points at 3,720.46 points.

SENSEX CROSSES THE 16,800 MARK, NIFTY AT 4,900 IN EARLY TRADE

The stock markets continued their record-breaking spree with the benchmark Sensex touching a new peak of 16,820.53 within a few minutes of trade today, up by a whopping 256 points on the back of firm global cues and a slew of positive news.

The Bombay Stock Exchange (BSE) 30-share barometer opened with a wide upside gap at 16,697.89 from last Friday's close of 16,564.23 and rallied further to a new intra-trade life-time peak of 16,820.53.

However, profit-taking pared early gains and it was quoted at 16,656.34 at 1030 hours.

Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) logged a new intra-day high of 4,913.35, a rise of 75.80 over previous close of 4,837.55. It was quoted at 4,861.90 at 1030 hrs.

Top heavyweight Reliance Industries (RIL) remained the most favourite of the investing fraternity on news that the company has struck oil in D4 block of Krishna Godavari (KG) basin.

Banking counters also remained in the limelight on expectations of interest rate cut by the central bank in near future.

Most of the Asian indices were firm today in morning deal due to firm trend on Wall Street last Friday. The Dow Jones Industrial Average and the Nasdaq Composite Index rose by 53.49 points and 16.93 points respectively.

Market also got support from hectic short-coverings by operators and retail investors ahead of the expiry of September contract on September 27.

SENSEX SURGES 291 POINTS AT MIDSESSION

In volatile trading, the benchmark Sensex surged over 291 points at midsession on the Bombay Stock Exchange today on emergence of buying by funds amid brokers covering their short positions.

The key index moved in a wide range of 14,280 and 13,870 points on heavy alternate bouts of trading in fundamentally strong stocks led by heavy-machinery and information technology company stocks.

The Sensex gained 291.22 points at 14,280.33 at 13:00 hours, while the wide-based National Stock Exchange's Nifty gained 87.50 points at 4,162.40. The Nifty had fallen to 4,040.15 in morning deals.

The Sensex had plunged 438 points yesterday on political developments over the nuclear issue after the last week's bearish trend over widening sub-prime mortgage problems in US markets.

"The fresh firmness in the market came on speculations that the US Federal Reserve cutting the discount rate might help the market to defuse a crisis in the credit markets and revive demand for riskier assets like equities, Mumbai-based broker Ratnesh Gupta said.

Asian stocks rose on the back of rebound in US stocks for the fourth day yesterday, giving positive signals to the Indian markets, even discounting the political crisis at home, Gupta said.

Reliance Industries, which has the world's third biggest refinery and is the heaviest on the Sensex, jumped Rs 8.15, or 0.5 per cent, to Rs 1,755.5.

Infosys Technologies rose Rs 10, or 0.6 per cent, to Rs 1,771. India's second-largest software exporter expanded into Latin America by setting up a software development and sales unit in Monterrey, Mexico. These two companies carry almost one-fifth of the total weightage on the Sensex.

INDIA SHINING: SENSEX IS UNSTOPPABLE, CROSSES THE 15,000 MARK AND HEADS TOWARDS 20 K

The Bombay Stock Exchange benchmark Sensex finally crossed the 15,000 points level at mid-session on easing concerns of interest rate hike by the central bank.
A major support to the market came from sectors like cement, capital goods and auto, but received the final push from the information technology and communications sector. The key index was trading at 15, 007.22 points at 1330 hrs.

In similar manner, the second wide-based National Stock Exchange index Nifty also set an intra-day record at 4,411 points.

Buying activity was brisk, disregarding reports of inflation rate rising to 4.13 per cent in the week ended June 23 and the Bank of England hiking interest rate.

The benchmark Sensex, which had been teasing brokers' sentiments by nearing the psychological 15,000 points level in intra-day trading for the last few days, was propelled past the 15K level on reports that government was planning to give a relief package to exporters battling the appreciating rupee.

"The Indian market looks overvalued compared to other emerging markets, but overall it seems fairly valued," said Umesh Karne, Research Analyst, Emkay Shares and Stock Brokerage.

Meanwhile, Asian markets exhibited mixed trend but showed smart recovery after resuming weak. The Shanghai Composite was quoted up by 165.48 points and the Hang Seng by 249.18 points after 1.30 pm.

SENSEX, LIKE SIVAJI, IS THE REIGNING BOSS OF THE INDIAN CLASSES

The benchmark Sensex zoomed to a new record high of 14,806.51 points on Tuesday on heavy buying by foreign funds in blue-chip stocks led by banking and capital good segments.

The Sensex gained 142.25 points to surpass its previous closing peak of 14,664.26 points, scaled yesterday.

Earlier in the day, the index recorded an all-time intra-day high of 14,828.39 points, while beating its previous peak of 14,745.97 points achieved yesterday.

Similarly, the second wide-based National Stock Exchange index, Nifty, shot up further by 43.80 points to a record high of 4357.55, after touching an all-time intra-day high of 4365.35, and a low of 4313.55 points.

The current rally was attributed to banking and heavy-machinery stocks such as ABB, BHEL and Larsen and Toubro. Baking segment was led by stocks like State Bank of India, ICICI Bank and HDFC Bank.

The upsurge in the market was further fuelled by refinery stocks such as Reliance Industries, Indian Oil Corporation and Hindustan Petroleum following reports of an expected rise in petrol and diesel prices.