Foreign institutional investors continued their buying spree and invested a net Rs 4,865.85 crore during the week, including the provisional figure of November 1. (Agencies)
Short-covering due to expiry of October contracts also gave a boost to the market. Markets gained after the Reserve Bank of India (RBI) increased the repo rate by 25 basis points on Tuesday, to curb inflation and also improved liquidity for banks, which was as per marketmen's expectations.
The Sensex opened higher at 20,696.51 and shot up further to intra-day all-time high of 21,293.88 and also finished the week at a lifetime closing high at 21,196.31, showing a sharp gain of 513.29 points or 2.48 percent. The index surpassed the previous intra-day record of 21,206.77 on January 10, 2008.
The NSE-50 share Nifty also rose by 162.30 points or 2.64 percent to finish at 6,307.20, but failed to surpass its historic closing high of 6,312.45 recorded on November 5, 2010.
The US Federal Reserve's decision this week to continue with its bond-buying stimulus programme eased concerns about foreign funds pulling out capital from emerging markets. The market also got a boost when Union Finance Minister P Chidambaram said that the current account deficit is under control and the fiscal deficit target will be met.
Foreign institutional investors continued their buying spree and invested a net Rs 4,865.85 crore during the week, including the provisional figure of November 1.