Sensex rises 224 points to hit fresh record closing of 46,890; Nifty eyes 13,750 – Times of India
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NEW DELHI: Equity indices continued to march upwards on Thursday with the benchmark BSE sensex rising over 200 points amid gains in financial stocks.
Sensex jumped 224 points or 0.48 per cent to hit new record closing of 46,890; while the broader NSE Nifty settled at a fresh peak of 13,741 by surging 58 points or 0.42 per cent.
Top gainers in the BSE pack included HDFC twins (HDFC and HDFC Bank), Bajaj Finance, IndusInd Bank, PowerGrid and TCS with their stocks up as much as 2.92 per cent.
On the NSE platform, Nifty Financial Service index outperformed and moved as much as 1.18 per cent higher.
Both the equity benchmarks notched new peaks in 18 out of 27 sessions.
The indices have posted gains boosted by record inflows from foreign institutional investors (FPIs), progress on Covid-19 vaccines globally and signs of a nascent economic recovery in the country.
However, the rally’s pace is slowing and the market might see some correction, Umesh Mehta, head of research at Samco Securities in Mumbai, told news agency Reuters.
FPIs were net buyers in the capital market as they purchased shares worth Rs 1,981.77 crore on a net basis on Wednesday, according to provisional exchange data.
Meanwhile, Union cabinet on Wednesday approved a subsidy of Rs 3,500 crore to encourage sugar exports.
Sensex jumped 224 points or 0.48 per cent to hit new record closing of 46,890; while the broader NSE Nifty settled at a fresh peak of 13,741 by surging 58 points or 0.42 per cent.
Top gainers in the BSE pack included HDFC twins (HDFC and HDFC Bank), Bajaj Finance, IndusInd Bank, PowerGrid and TCS with their stocks up as much as 2.92 per cent.
On the NSE platform, Nifty Financial Service index outperformed and moved as much as 1.18 per cent higher.
Both the equity benchmarks notched new peaks in 18 out of 27 sessions.
The indices have posted gains boosted by record inflows from foreign institutional investors (FPIs), progress on Covid-19 vaccines globally and signs of a nascent economic recovery in the country.
However, the rally’s pace is slowing and the market might see some correction, Umesh Mehta, head of research at Samco Securities in Mumbai, told news agency Reuters.
FPIs were net buyers in the capital market as they purchased shares worth Rs 1,981.77 crore on a net basis on Wednesday, according to provisional exchange data.
Meanwhile, Union cabinet on Wednesday approved a subsidy of Rs 3,500 crore to encourage sugar exports.
Also, the government said that it would auction airwaves worth more than Rs 3.92 lakh crore, which if successful could mark the beginning of 5G services in the country.
Globally, broader Asian markets perched near record highs today on optimism over a US stimulus package and the Federal Reserve’s promise to keep interest rates low.
(With inputs from agencies)
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