Fed taper spurs bull run on bourses
Sensex, Nifty zoom to fresh peaks; Sensex soars 958.03 pts to 59,885.36; Nifty jumps 276.30 pts to 17,822.95; Investors’ wealth soars by Rs3.17trn
image for illustrative purpose
Mumbai: The BSE Sensex vaulted 958 points to scale a fresh lifetime high on Thursday, propelled by across-the-board buying amid a positive trend in global equities despite hawkish comments from the US Fed. Robust gains in the rupee further buoyed sentiment, traders said.
Reversing the previous session's lethargy, the 30-share BSE Sensex zoomed 958.03 points or 1.63 per cent to end at an all-time high of 59,885.36. It scaled a new peak of 59,957.25 during the day. Similarly, the broader NSE Nifty soared 276.30 points or 1.57 per cent to its new closing high of 17,822.95, after touching an intra-day record of 17,843.90.
The market capitalisation (mcap) of BSE-listed companies reached an all-time high of Rs261.73 lakh crore on Thursday, helped by a massive rally in the equities where the benchmark Sensex zoomed 958 points to end at a fresh lifetime peak. Driven by the rally in the equities, the market capitalisation of BSE-listed companies jumped Rs 3,16,778.1 crore to reach Rs 2,61,73,374.32 crore. Devang Mehta of Centrum Broking said: "The market took the US Fed statement of starting tapering as soon as November in its stride."
