Saturday, 24 August, 2019

Sensex and Nifty close at record highs after retail inflation dips

BSE Sensex opens higher Sensex and Nifty close at record highs after retail inflation dips
Debra Rodriguez | 17 May, 2017, 07:47

The 30-share BSE index leapt 181.36 points, or 0.60 per cent, to trade at a new record 30,503.48, surpassing its previous milestone of 30,366.43 (intra-day) touched on 11 May.

Catching its breath after a spectacular three-day rally, the rupee surrendered some gains against the U.S. currency and settled lower by 3 paise at 64.08 on fresh bouts of dollar demand.

In investments, provisional data with the exchanges showed that FIIs purchased stocks worth Rs 858.29 crore, while domestic institutional investors (DIIs) divested scrips worth Rs 401.89 crore.

'If you see now, investors are bullish about the market since corporate earnings have been in line with expectations as well as the anticipation of good rains this year, ' said RakeshTarway, head of research at Reliance Securities.

In of the 30- share Sensex pack, 21 scrips ended higher. "That has shredded off the worries over premium valuation of stocks". Vehicle maker Maruti Suzuki India rose 2.1% to 6,952.60 rupees and consumer goods maker Hindustan Unilever ended 1.6% higher at 998.15 rupees. Barring metal and infrastructure, all the sectoral indices were trading in the positive zone.

The Sensex closed at a new high of 30,322.12 points - up 133.97 points or 0.44 per cent. The German DAX and the U.K.'s FTSE 100 both inched up 0.3 percent while France's CAC 40 index rose 0.2 percent. The BSE saw 1,414 stocks gaining against 1,367 declines.

The total turnover on BSE amounted to Rs 4985.91 crore, rising from Rs 3,871.81 crore registered during the previous trading session.

Sector-wise, the S&P BSE consumer durables index augmented by 122.50 points, followed by the automobile index by 112.28 points and the banking index by 72.90 points.

Other major gainers that supported the key indices were Bharti Airtel (2.78 per cent), RIL (1.89 per cent), TCS (1.46 per cent), Dr Reddy's (1.30 per cent), Tata Motors (1.17 per cent) and ITC (1.05 per cent).

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