Sensex near 11,000 mark, rises up to 10,951

Mumbai, Mar 18 (UNI) Sensex inched closer to the 11,000 mark this week yesterday as it soared to 10,951 in intra-day trade backed by the excess liquidity chasing the frontline scrips.

News of Reliance Mutual Fund's Rs 5,700 crore collection through the new fund offer kept the market sentiments higher as did the continuing support from the foreign institutional investors.

However, it was another volatile week for the equity markets which, however, kept up its upward momentum, closing at yet another all-time high of 10,860 with a gain of 95 points, as against the previous week's close at 10,765 points.

Thursday's close of 10,878.74 was the highest close for the Sensex whereas yesterday the National Stock Exchange closed at a new peak of 3,234 points.

The National Stock Exchange 50-share S&P CNX Nifty index closed 51 points up at 3,234,as compared to the previous week's close of 3,183.90 points.

The NSE Nifty too, touched a new all-time high of 3,258 points in the intra-day trade yesterday.

On Monday, it was another all-time high closing for the BSE Sensex at 10,803, with a gain of 38 points. Sensex crossed the 10,800 mark for the first time today in the first half-an-hour of trading and touched a high of 10,884, with a gain of 119 points.

On Tuesday, Sensex closed flat, but in the red, at 10801.72 with a loss of 1.99 points as against the last close of 10,803.71 points.

The benchmark index came back strongly and touched 10896.39 -- its highest in the intra-day trade, but profit booking pulled it down to a flat ending.

On Wednesday, markets were closed on the eve of 'Holi' celebrations.

On Thursday, Sensex closed at a new all-time high of 10,878.74 points, with a gain of 77 points, on the back of good gains in the blue chips led by Reliance Industries and the Tata pack.

Yesterday, Sensex soared to an all-time high of 10,951.38 but finally settled 19 points lower at 10,860 points as there was profit booking towards the close of the trading. Income-tax raids in some brokers' offices in Pune and Mumbai seemed to have dampened sentiments along with the selling pressure as the financial year closing in March, as well as clearing of positions in future and options markets.

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