Mumbai: The market today (Nov 24, 2004) ended 26 points up at a 10-month high of 6035.95 in volatile activity, extending its gains to third session in a row, even as differences over "ownership issues" pertaining to Reliance continued to have negative impact on its group shares.

The consistent FII inflows, which crossed previous record investments in a calendar year, played the key role in driving the market to higher levels.

Opening weak at 6007.87, the BSE Benchmark 30-share Index later fluctuated erratically in a range of 6053.19 and 6001.46 before ending the day at 6035.95 as against yesterday's (Nov 23, 2004) close of 6009.86, a net rise of 26.09 points or 0.43 per cent.

Reliance group shares bore the brunt of fresh onslaught of selling pressure following the ongoing controversy over the remarks on "ownership issues" made by RIL chairman and managing director Mukesh Ambani.

Ambani reportedly re-asserted his authority by sending a message to employees that the chairman and managing director is the final authority on all matters concerning Reliance, giving rise to speculations about the family feud. The market driver Foreign Institutional Investors (FIIs) have stepped its activity since last week. In eleven months this year, FIIs have pumped in about 30,000 crore or $6.6 billion, the highest-ever investments in any calendar year in the history of Indian bourses.

Operators too have squared up positions and were believed to have rolled over 60 per cent of their holdings to December contract. The November contract in the Futures and Options segment will expire on Thursday (Nov 25, 2004).