Sensex, Nifty scale fresh peaks, PSBs extend rally

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.)