Mumbai: It was a bulls' party on the street on Wednesday. Consistent inflow of foreign money and falling inflation raised hopes for rate cuts which may have contributed to Wednesday's rally.
This helped the benchmarks stay above psychologically important levels and closed at a three and half months high.
The Sensex rose 335.29 points or 1.88 per cent, to close at 18,183.86 and the Nifty gained 107.55 points or 1.99 per cent, to end at 5,525.50. In the year 2012, respective benchmarks rallied over 17.5 per cent and 19 per cent.
Foreign money played a key role in the current year. FIIs pumped in more money in the first half of the February itself as compared to January flow.
They bought Rs 11,089.30 crore worth of equity shares in January. After looking at Wednesday's upmove in largecaps and midcaps, it seemed to be crossing Rs 12,000 crore.
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