Sensex shot up to end at a new closing peak on heavy buying support from operators.
Led by Capital Goods (CG) sector, the market extended its gains to second straight day and Bombay Stock Exchange's Sensexon Mondayshot up by 62 points to end at yet a new closing peak of 10,173.25 points on heavy buying support from operators on the back of sustained FII inflows.
The benchmark 30-share index also hit a new intra-trade record high of 10,182.77 points before ending the day at 10,173.25 against Friday's close of 10,110.97, a net rise of 62.28 points or 0.62 per cent.
CG counters like L&T, BHEL, BEML, ABB, Siemens, Alstom Projects, Gammon India and others hogged the spotlight on consistent buying support from investors. As a result, the BSE CG Index soared by a whopping 284.66 points or 3.99 per cent to 7,416.78 from previous close of 7,132.12.
Investors discounted bearish trend in Asian markets and made large commitments in CG shares on expectations of better returns in the sector.
Crediting the rally to selective purchases by traders and retail investors, brokers said Foreign Institutional Investors (FIIs) were believed to have slowed down their inflows after pulling out over Rs 118 crore on February 8. They had pumped in about 3,200 crore in the first five days of the month.
The market was well supported by the country's strong economic fundamentals and robust corporate earnings.
Meanwhile, the Asian markets ended sharply lower after a firm start. The Nikkei ended down by 380.17 points, the Hang Seng by 113.86 points, the Taiwan by 32.63 points and the Kospi by 14.44 points.