Stocks remain volatile, Sensex hits historic high

MUMBAI, JAN. 4. Equities sustained their rally for the second successive day and lifted the benchmark to another a historic high at 5534 during extremely volatile trading on the Bombay Stock Exchange today as speculators continued to cheer a triumphant transition to the new millennium, anticipating sharp increase in foreign investments in the country.

Operators flooded the market with the very funds they had raised out of the Y2K jitters and were extending commitments in several scrips as foreign institutional investors and Indian financial institutions made fresh purchases in software scrips and select cyclicals.

Fresh FII activity was attributed to the persistent rally in the Nasdaq composite index that scaled a new peak at 4131.1 at close on Monday. Once again, Infosys Technologies jumped to a new record high at Rs. 16931.65 during the session.

The BSE sensitive index opened with a wide gap at 5533.98 but later fluctuated erratically in a wide range of 5533.98 and 5376.43 before closing with a new record at 5491.01 against yesterday's close of 5375.11, netting a rise of 115.90 points.

- PTI

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Section  : Business
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