Monday, June 6 2005 11:20 Hrs (IST) - World Time -

Mumbai: The Sensex today (Jun 6, 2005) rallied smartly after a weak start and breached the 6800-mark during morning trading on the Bombay Stock Exchange (BSE) on the back of sustained Foreign Institutional Investors (FIIs) inflows in equity coupled with fresh buying support from operators.

The BSE barometer crossed the 6800-barrier for the first time since March 16, 2005.

The BSE Benchmark 30-share Index opened moderately down at 6747.20 as against last Friday's (Jun 3, 2005) close of 6753.00 and later turned strong rising to a high of 6807.79 before being quoted at 6798.70 at 10:30 hrs (IST), up by 45.70 points.

Crediting the rally to positive FII activity, brokers said operators were seen making fresh commitments in a number of stocks buoyed by imminent settlement between the two warring Ambani brothers.

The broad contours of a settlement in the ownership battle between Mukesh Ambani and younger brother Anil are understood to have been worked out and expected to be formalised within the next six weeks.

FIIs have pumped in over Rs 824 crore in equity in the first four sessions last week after sizeable withdrawals in the past few weeks. The market has turned bullish and is likely to touch 7200-mark in the two months, brokers added.