FII's push SENSEX above 20K | NIFTY above 6K

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Large stock purchases from Foreign institutional investors boosted Indian stock markets today as both Bombay Stock Exchange's SENSEX and National Stock Exchange's Nifty closed just over psychological figure of 20000 and 6000 respectively today.

The 30 share benchmak Sensex rose over 95 points in today's trade and ended at 20,001.55, up 95.45 points and National Stock Exchange's broader index Nifty also closed up by 0.48 percent,by closing at 6,009.05, up 28.60 points in today's trade. However the movement of Indian stock markets is looking too sceptical when we consider the global peers performance in recent weeks, Most of the purchasing of Indian Stocks currentlyis being done by foreign Institutional investors, which mainly concentrated on BSE30 Stocks hence a rise in SENSEX stocks whereas BSE Midcap Index was down 0.98 percent and BSE Smallcap Index declined 1.34 percent.
Since Stock prices of BSE 30 stocks are going beyond the reach of common man's hands hence selling is seen at midcap and smallcap stocks, The rise is purely due to foreign players and might not show indian sentiments to some extent.

Watching sectoral indices today BSE IT Index gained 2.43 percent and BSE Capital Goods Index gained 1.12 percent higher. BSE FMCG Index however declined by 1.34 percent and BSE Realty Index closed down by 1.30 per cent.