FIIs lift SENSEX by 484 points – Closes at 20,688

TheForeign Institutional Investors have pumped in over $ 1 trillion and the Bulls are back again. After weak day at the bourses on Tuesday, the October 12, 2010, the Bulls made a smart come back to the bourses on Wednesday, and theBombay Stock Exchange Sensitive Benchmark Index went up to dizzy heights and gained 484 points. TheSensex which at the opening trade at 20223 points never looked back. The sensex went to a high of 20703.97 points and closed at 20687.88 points an incredible gain of 480 points. In the last 52 weeks thesensex gained over 5400 points to its present level from 15330.56 points. Among the sectoral shares, IT and FMCG were notable due to its strong expectation from second quarter earnings. Realty sectors also fared well and the bears who were expecting a correction before mega IPO Coal India next week were caught unawares. During the entire day theSensex never looked back. The National Stock Exchange (NSE) gained 143 points to close the day at 6234 or 2.4% gain over its previous close.