Monday, November 7 2005 17:08 Hrs (IST) - World Time -

Mumbai: Riding high on renewed Foreign Institutional Investors (FII) inflows, the Sensex extended its winning streak to the fourth straight day today (Nov 7, 2005) and ended 134 points up at three-week high of 8,206.83 as market valuations remained attractive amid weak trend in SouthEast Asian markets on the first day of the week.

Foreign Institutional Investors (FIIs) once again, seemed to have turned bullish about the prospects of a robust growth in the economy for the current fiscal.

The Bombay Stock Exchange's (BSE) Benchmark 30-share Sensitive Index (Sensex) opened firm at 8,083.59 and later rallied sharply to the intra-day high of 8,216.42 before ending the day at 8,206.83 as against Wednesday's close of 8,072.75, a net rise of 134.08 points or 1.66 per cent.

The Sensex has risen by 521.19 points or seven per cent in four sessions since October 31.

FIIs, which had pulled out sizeable funds during October, reportedly were engaged in covering short positions in the Futures at the prevailing market levels.

Operators and domestic mutual funds joined the bandwagon and made heavy commitments in key counters.

IT sectors led the price rally bolstered by appreciating dollar against the rupee. Bank shares also surged to a strong finish on heavy FIIs purchases.

After a sharp correction of 949 points or 11 per cent during October, FII seemed to be keen in equities at the prevailing price levels, brokers said adding that domestic funds, however, were more aggressive than their counterpart.