Saturday, March 25 2006 14:08 Hrs (IST) - World Time -

Mumbai: Crossing the 11,000 milestone on March 21, stock market wrapped up the week under review at a new closing peak of 10,950.30, with BSE's benchmark Sensex adding another 0.83 per cent to its kitty, buoyed by the continuous flow of funds into equity.

Foreign Institutional Investors (FIIs) and local mutual funds remained the key force to drive the bourses to all-time peaks. FIIs reported inflows of Rs 686.80 crore in the first four sessions of the week, taking the total net investment to Rs 4,831 crore so far in the month.

Domestic mutual funds too were consistent buyers and made net purchases of Rs 424.83 crore in the same period. Their net investments amounted to Rs 2,948 crore so far in March.

In the week till March 25, the Bombay Stock Exchange (BSE) Benchmark 30-share Index (sensex) scaled a new intra-trade record high of 11,017.25 on March 21, before ending the week at an all-time closing peak of 10,950.30 against last weekend's close of 10,860.04, a net rise of 90.26 points.

In the gaining streak going on for the last five weeks, the sensex has risen by 969.19 points or 9.71 per cent.

The market has totally discounted concerns over pressure over liquidity crunch faced by the financial system and managed to stay afloat mainly because of the positive activity by institutional investors.

The investors, in turn, were apparently encouraged by the developments on the economic front including hints on full rupee float.

The expected steps on the currency's capital account convertibility could boost country's foreign trade, especially exports from special economic zones.