Sensex, Nifty log further fresh highs
Despite weak global cues, foreign investors continue to pour in investments in domestic market; RIL, M&M hog limelight; Nifty gains 865pts or 4.6% in last 8 sessions; Mcap on BSE at lifetime peak of Rs301.71 trn
image for illustrative purpose
Mumbai Equity benchmark indices scaled fresh all-time closing highs on Thursday, driven by unabated foreign fund inflows and buying in index major Reliance Industries. Defying a weak trend in the global markets, the 30-share BSE Sensex climbed 339.60 points or 0.52 per cent to settle at its new all-time closing high of 65,785.64. During the day, the benchmark jumped 386.94 points or 0.59 per cent to hit its lifetime intra-day peak of 65,832.98. The NSE Nifty rallied 98.80 points or 0.51 per cent to end at a new record high of 19,497.30. In intra-day, it advanced 113.7 points or 0.58 per cent to reach its all-time intra-day peak of 19,512.20.
“Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues. Global markets are displaying a negative trend, influenced by hawkish Federal Open Market Committee (FOMC) minutes and US-China tensions,” said Vinod Nair, head (research) at Geojit Financial Services.
Foreign Institutional Investors (FIIs) continued their buying activity as they bought equities worth Rs2,641.05 crore on Thursday, according to exchange data. Among the indices, utilities rallied 2.44 per cent, realty jumped 2.17 per cent, oil & gas advanced 2 per cent, power climbed 1.96 per cent, energy (1.84 per cent), auto (1.20 per cent) and healthcare (1.05 per cent). IT emerged as the only laggard among the indices, falling marginally by 0.05 per cent. A total of 2,049 stocks advanced while 1,401 declined and 146 remained unchanged on the BSE.
