Date:02/07/2005 URL: http://www.thehindubusinessline.com/2005/07/02/stories/2005070203250100.htm

Back Sensex hits record high of 7,210 points

Our Bureau

Mumbai , July 1

CONTINUED buying by foreign institutional investors saw the Sensex zoom to another record high on Friday. The 30-stock benchmark index touched its all-time high of 7,228.57, before ending the day at 7,210.77.

On a day of choppy yet range-bound trade, the Nifty shed 8.7 points to close at 2,211.90.

Market participants say that selective buying by fund houses in large cap scrips is fuelling the bull-run. Analysts have been expecting corrections and are surprised by the continued bullishness in the market.

The announcement about the drop in inflation rate by 0.23 per cent to touch a two-year low of 4.10 per cent for the week ended June 18 also helped maintain market optimism.