Market watchers attribute the robust climb in the benchmark 30-share sensitive Index to aggressive buying by foreign institutional investors and domestic mutual funds, though public activity remained negligible during the period.
"There has been a lot of buying regularly from FIIs and domestic MFs," said Tarun Bansal of Aquatoris Shares Pvt Ltd, a leading stock broker in the Bombay Stock Exchange.
Earlier, the market had travelled from 5,000 to 6,000 in just 48 days, according to data available with the BSE. But it slogged for over 170 days to reach the 7,000 mark on June 20, 2005.
The Sensex journey: 1000 to 8000!
Indian mutual funds were active sellers when the market hovered between 6,700-7,000, but turned very aggressive buyers once it passed the 7,000 mark, said Manoj Choraria of United Share Brokers.
The FIIs and MFs' interest was triggered on hopes of robust corporate earnings. Marketmen said the bourses were robust and hoped that the bullish sentiment would continue for sometime.
