MUMBAI: Sustained FII inflows and firm Asian advices on Monday lifted the Bombay Stock Exchange (BSE) benchmark, Sensex, by another 121 points, extending the gaining streak to the fifth day in a row amid profit booking by retailers.
Foreign Institutional Investors (FIIs) were consistent net buyers in both the Futures and the Cash segments during last week, after heavy withdrawals in May.
In Asian markets, the Nikkei ended up by 292.09 points, Hang Seng by 40.06 points and the Kospi by 3.01 points.
The 30-share sensitive index (Sensex) opened firm at 11,221.86 points and rallied smartly to the day's high of 11,330.30 before ending the day at 11,312.99 points against Friday's close of 11,192.46 points, a net rise of 120.53 points or 1.08 per cent.
The National Stock Exchange's (NSE) S&P CNX Nifty also shot up by 38.75 points or 1.18 per cent to 3,313.10 from last weekend's close of 3,274.35 points.
Commenting on the increase in FII activity in the last couple of weeks, analysts said India is still considered attractive for investments compared to other emerging markets.
Selling pressure by retail investors, which surfaced in the concluding 30 minutes of trading, however, was attributed to reports that the ban on US cola majors could affect investments in India.
Retailers were also cautious ahead of the release of US inflation data this week as any rise in it would lead to a rate hike by the Federal Reserve in future, brokers said.
The market is governed by strong economic fundamentals and robust corporate earnings for the first quarter of this fiscal, they added.
