Wednesday, August 3 2005 11:14 Hrs (IST) - World Time -

Mumbai: Buoyed by continued Foreign Institutional Investors (FII) inflows and increased participation from operators, the Sensex today (Aug 3, 2005) rose past 7800 level for the first time reflecting a sharp rally in the top heavyweight Reliance Industries and IT majors during morning trading on the Stock Exchange, Mumbai (BSE).

The BSE Benchmark 30-share Index opened firm at 7774.29 as against yesterday's (Aug 2, 2005) close of 7756.04 and later rallied sharply to a high of 7843.77 before being quoted at 7825.58 at 10.30 a.m, up by 69.54 points.

The market totally discounted negative factors including soaring crude prices and continued its upsurge for the eighth consecutive session, as FII remained sustained buyers on Indian bourses.

FIIs reported net investments of Rs 642.70 crore on Monday (Aug 1, 2005) after pumping in more than Rs 8,000 crore in July.

Shares of a leading software company i-flex solutions flared up on reports that Oracle, the second-largest software company in the world, is buying out Citigroup's 41 per cent stake in the company.

The price rally was also credited to a strong trend on Wall Street.

The Dow Jones Industrial Average and the Nasdaq Composite yesterday ended up by 60.59 points and 22.77 points respectively.

The Asian markets too ruled firm at opening.

Infosys Tech, Satyam Computers, Wipro and (TCS) Tata Consultancy Services Ltd(TCS) were also in the limelight on heavy buying support.

Reliance Industries Limited (RIL), State Bank of India (SBI), Tata Motors, Tata Steel, Dr Reddy's Lab, HDFC Bank, Hero Honda, ITC, Larsen and Turbo (L&T), Maruti Udyog, ONGC and Tata Power were quoted remarkably up.