Mumbai, September 21
The BSE benchmark, Sensex, closed above the 20,000-mark for the first time since 2008 to close at 20,001.55 points today. It was the 20th occasion when the Sensex breached this psychological barrier. The Sensex first closed above 20k on December 11, 2007, and the last time it did so was on January 15, 2008.

In the broader markets, the Nifty also closed at 6,009 points. However, unlike in the earlier instances, investors have begun to turn cautious with broader indices showing sharp declines today. The BSE, mid and small caps were under performers closing lower by 0.32 per cent and 0.61 per cent, respectively.

The overall market breadth was also negative with 834 scrips advancing as against 2,225 scrips showing declines.

The Sensex has gained 2,100 points in just 15 sessions after closing at 17,971.12 in August. The stratospheric rise in the Sensex has been attributed to the foreign funds rushing into the Indian markets. According to data available from the SEBI, the FIIs invested Rs 12,442 crore so far this month.

Inflows for the current year have exceeded Rs 71,000 crore and could easily surpass the 2009 figure of Rs 83,400 crore, analysts said.

Much of the inflows have been in the form of investments in Exchange- Traded Funds, say stock brokers. Consequently, FIIs are still to enter mid-cap and small-cap stocks in a big way, according to analysts.

Today’s major gainers among the Sensex stocks were Tata Power Company, up 2.82 per cent, Wipro 2.70 per cent, Tata Consultancy Services, up 2.50 per cent, Housing Development Finance Corporation, up 2.30 per cent, Cipla, up 2.14 per cent, and Larsen & Toubro, up 2.08 per cent.