Sensex reaches fresh peak of 31,802.03; Nifty tops 9,800 | business-news | Hindustan Times
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Sensex reaches fresh peak of 31,802.03; Nifty tops 9,800

The flagship Sensex today rallied to a fresh all-time high of 31,802 and the NSE Nifty hit off a new peak of 9,807 on uninterrupted foreign capital inflows coupled with earnings optimism among participants.

business Updated: Jul 11, 2017 10:30 IST
BSE Sensex hit a fresh intraday high in the opening session on Tuesday.
BSE Sensex hit a fresh intraday high in the opening session on Tuesday.(HT Archive)

The flagship Sensex today rallied to a fresh all-time high of 31,802 and the NSE Nifty hit off a new peak of 9,807 on uninterrupted foreign capital inflows coupled with earnings optimism among participants.

There are expectations that key macro data such as inflation and industrial production -- lined up for tomorrow

-- will be encouraging.

Rising for the second straight day, the 30-share index rose by 86.39 points, or 0.27 %, to hit a new peak of 31,802.03.

The gauge had gained 355.01 points in the previous session to close at a record high at 31,715.64. It had also touched an intra-day lifetime high of 31,768.39.

Sectoral indices led by IT, technology, healthcare, auto, oil and gas were trading in the positive zone, with gains of up to 0.97 %.

The 50-share NSE Nifty gained 35.70 points, or 0.36 %, to trade at its lifetime high of 9,806.75.

Stocks of sugar companies were lapped up after the government yesterday raised import duty to 50 %, up from the 40 %, to restrict cheap inward shipments and support domestic prices.

Big gainers in the sugar space included Shree Renuka Sugars, Dhampur Sugar, Bajaj Hindusthan, Balrampur Chini, rising by up to 3.38 %.

Traders said that apart from a fresh spell of buying by foreign funds, continuous buying by domestic institutional investors ramped up the momentum, lifting indices to new highs.

A firm trend at other Asian exchanges gave more lift.

Among the 30-share Sensex stocks, Infosys, Tata Motors, SBI, M&M, TCS, Hindustan Unilever were the top performers.

Hong Kong’s Hang Seng gained 1.08 % while Japan’s Nikkei rose 0.27 % today.

The US Dow Jones Industrial Average closed 0.03 % lower yesterday.