Dalal Street made history on Tuesday. With a buying euphoria sweeping the markets, the benchmark Sensex ended at its all-time closing high of 6,234.29— showing a gain of 76.52 points or 1.24 per cent— thanks to huge foreign fund inflows. The Sensex missed its all-time intra-day high of 6,249.60 by 1.17 points. For the month, the Sensex gained 562.02 points. The widely-tracked index last closed at an all-time high of 6,194 on January 14, 2004. “Sustained FII buying in frontline stocks has been the key trigger for the rise in the market that lifted the Sensex to a new record high,” said Rajat Jain, CIO, Principal PNB Asset Management Company. Market circles said FIIs are flocking to the Indian market due to the fall in the dollar’s value abroad. With FIIs pumping in dollars, the rupee also shot up to close at a recent high of 44.63. As a result, the foreign exchange kitty of the country had recently zoomed past the $125 billion mark. FIIs had already brought a whopping $7 billion into India in 2004, the highest in any year so far. “Very clearly, there’s a buoyancy in the market and it looks like it will be sustained . when the index will hit a new intra-day high is immaterial, as it is bound to happen sooner or later,” said Arun Kejriwal of KRIS Securities. Tuesday’s rally was triggered by frontline stocks. Even Reliance group stocks— which were hammered last week due to “ownership issues”— shot up in euphoric buying conditions. Investors wealth —market capitalisation— also shot up. The market capitalisation (m-cap) of the BSE rose by around Rs 30,000 crore to Rs 14,81,701 crore on Tuesday. I’m very happy: FM