Friday, November 11 2005 11:26 Hrs (IST) - World Time -

Mumbai: Buoyed by firm global trend and a sharp fall in crude prices, the Bombay Stock Exchange (BSE) Benchmark 30-share Index (Sensex) once again turned strong after a two-day pause and spurted past 8400 level during morning (Nov 11, 2005) trading on the back of sustained FII inflows.

Global oil prices fell by over one dollar, dipping below 58 dollar a barrel while Wall Street witnessed a firm trend yesterday (Nov 10, 2005) followed by a rebound in Asian markets this morning.

The Sensex opened strong at 8332.94 against yesterday's close of 8308.93 and later rallied past 8400-mark to a high of 8406.35 on heavy buying support before being quoted at 8402.74 at 10.30 am, up by 93.79 points over last close.

Foreign Institutional Investors (FII) were believed to be heavy buyers during morning trading. FIIs had been consistent buyers in the current month and have made net purchases of Rs 1674 crore in first five trading days of November.

Key stocks like Tata Motor, Satyam Computers, ONGC, Bajaj Auto, Maruti Udyog, TCS Ltd, BHEL, Dr Reddy's Lab, Grasim, ITC, ACC, Cipla and Ranbaxy were quoted remarkably up.

Operators and retail investors also were seen squaring up positions at the weekend session.

Brokers credited sudden price rally after two days of resistance largely to sliding international crude price and firm trend in global markets.