Sensex ends above 28,000 for first time

The BSE Sensex on Wednesday closed above the 28,000-mark for the first time and the Nifty touched 8,400-level with sustained buying by foreign funds in auto, banking, FMCG and consumer durable stocks amid hopes of easing inflation and encouraging IIP numbers. Continuing its surge for the third day, the BSE Sensex hit fresh life-time high of 28,126.48. After paring some gains, the 30-share index settled at an all-time closing high of 28,008.90, up by 98.84 points over the previous close. It surpassed the earlier record closing of 27,915.88 touched on 5 November.

The gauge had gained 41.43 points in the previous two sessions. It took 45 trading sessions from
September 2 to 12 November to reach the 28,000-level from 27,000.