The Nifty crossed a new milestone
to close at a record 10,153 today and the Sensex surged 151
points to 6-week high, driven by stronger rupee and revival of
buying interest of foreign investors amid abundant liquidity.
Domestic institutional investors continued to back the
rally, along with positive leads from global markets.
Asian markets logged healthy gains and European shares
jumped to a higher opening, tracking Wall Street hitting fresh
highs on Friday ahead of this week's US interest rate call and
cooling North Korea tensions, traders said.
The 50-share NSE Nifty closed at 10,153.10 -- a new peak
-- up 67.70 points, or 0.67 per cent, after shuttling between
10,171.70 and 10,131.30. It broke previous record closing of
10,114.65 hit on August 1.
It also breached the intra-day record of 10,137.85
reached on August 2.
Reflecting the positive mood, the NSE Bank Nifty breached
the 25,000 mark to hit all-time time of 25,105.35, helping the
broader Nifty scale a new high.
The 30-share BSE Sensex also pushed higher by 151.15
points, or 0.47 per cent, to end at 32,423.76, its highest
closing since August 2 when it settled at 32,476.74. During
the day, it touched a high of 32,508.06.
The gauge had gained 610.64 points in the previous seven
"Market advanced and touched another historic high on
firm global cues. Strength in the rupee and a gradual pick-up
in FII buying has increased liquidity in the market. On the
other hand, focus has now shifted to tomorrow's Fed policy
meet," said Vinod Nair, Head of Research, Geojit Financial
With today's jump, market capitalisation -- measured in
terms of investors' wealth -- stood at Rs 1,36,76,465 crore.
The US Federal Reserve is widely expected to leave
interest rates untouched after the two-day policy meeting this
week, beginning tomorrow. Investors are also keenly looking
for any announcement for trimming of the balancesheet.
Revival of buying by foreign portfolio investors (FPIs),
who had been major sellers for a long spell on the Indian
bourses, accelerated the buying pace, helping the benchmark
Nifty scale new highs.
Domestic institutional investors (DIIs) purchased shares
worth a net Rs 125.55 crore while FPIs bought equities of Rs
418.86 crore on Friday, showed provisional data.
The rally was broad-based, with capital goods, auto,
technology, power and banking stocks making hay.
Broader markets also put up a good show, with small-cap
index soaring to a life high by surging 0.87 per cent to
16,833.58 and mid-cap gaining 0.73 per cent at 16,089.94 on
continuous buying by investors.
Auto shares were buyers' radar on expectations of bumper
sales during the upcoming festive season.
Bajaj Auto was the star among Sensex components, rallying
3.57 per cent, to Rs 3,129.80. Other bright spots include
Hindustan Unilever, Larsen and Toubro, Coal India, Cipla, Dr
Reddy's and Hero MotoCorp, rising by up to 2.77 per cent.
Stock of consumer electronics manufacturer Dixon
Technologies today made a spectacular debut on the bourses,
climbing 63.81 per cent to Rs 2,892.80 after hitting a high of
3,020.25 against the issue price of Rs 1,766.
The BSE capital goods counter sectorally hummed the most,
with a rise of 1.47 per cent, followed by consumer durables,
auto and banking.
Globally, Japanese financial markets remained shut today
for a public holiday.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)