The Nifty crossed a new milestone

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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

straight sessions.

"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

Services Ltd.

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.)