Market found itself on a fresh high
for the fourth session today, with the Sensex jumping 109
points as state-owned lenders extended a rally.
The Nifty closed above 10,350.
The PSB stocks have been on a roll, especially since last
last week, driven by the government's mega Rs 2.11 lakh crore
recapitalisation plan and encouraging quarterly earnings by
more blue chip companies.
The BSE 30-share Sensex continued its upward march to
touch a new all-time intra-day high of 33,340.17, surpassing
its previous high of 33,286.51 recorded on October 27.
But it lost ground due to profit-booking and and settled
at a new closing peak of 33,266.16, up 108.94 points, or 0.33
per cent. The Sensex surpassed its previous record of
33,157.22 touched on October 27.
In six days, the index has gained 876.19 points.
Similarly, the broader 50-issue NSE Nifty hit a new
intra-day high of 10,384.50, bettering its record of 10,366.15
hit on October 27. However, due to profit-taking at record
levels, it closed at 10,363.65, still a new high, up by 40.60
points or 0.39 per cent. It broke the previous record of
10,343.80 reached on October 26.
Traders said sentiment was upbeat in domestic energy
stocks with Brent crude soaring to hit its highest level since
July 2015 after Saudi Arabia agreed to support the extension
of a global oil production cut agreement.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)