The BSE benchmark index opened strongly at 17,467.41, and touched a record high of 17,729.94 in the opening time. The Sensex continued its positive rally as sustained buying interest was witnessed in the heavyweights; further optimistic worldwide cues chaired the rally. All sectors were trading in positive.

Asian stocks also boosted after Citigroup made an offer to purchase the resting 32% of Nikko Cordial Corp. Many forecasters were of the belief that this may encourage merger & acquisitions. The financial stocks had dipped after the US subprime slide down.

After opening at 17,152.31 in the early trades, the BSE benchmark index, Sensex continued to trade strong in the afternoon trades. Afterward the index shed the majority of its points in the after hours. Lastly, it regained strength amidst instability and touched a peak of 17,361.47, to close the day on a firm note. Selected stocks from banking, auto, pharma, metal, realty gained ground, whereas IT stock dangled.

The markets closed strong on Thursday with the benchmark index soaring 1.3% to close the day at 17,150 levels. In the intraday dealings, the 30-share index performed in a range of 17,018-17,188 levels.

Nifty hit a record high of 5,016 levels. The 50-share index ended the perky day at 5,000 after gaining 1.2 per cent. NSE Nifty took 205 trading sessions to made last 1,000 points.

During the flight from 4,000 to 5,000 levels, Foreign Institutional Investors pumped in $10.75 billion whereas Mutual Funds inducted $1.26 billion.

BSE Sensex crossed 17,000 levels, but ended the day lower due to selling pressure and profit booking in some index heavy-weights. The stock market closed at 16,921. Technology stocks were major gainers, while some banks and real estate stocks were in the red.