Sensex, Nifty hit new peaks as markets rise for 8th straight day
Extending their winning run to the eighth straight session, the benchmark Sensex on Tuesday jumped 292.20 points to end at new closing high of 29,571.04 and Nifty surpassed the 8,900-mark for the first time on optimism over Indo-US nuclear deal amid sustained foreign fund inflows.business Updated: Jan 27, 2015 17:43 IST
Extending their winning run to the eighth straight session, the benchmark Sensex on Tuesday jumped 292.20 points to end at new closing high of 29,571.04 and Nifty surpassed the 8,900-mark for the first time on optimism over Indo-US nuclear deal amid sustained foreign fund inflows.
The BSE Sensex resumed higher at 29,451.65 and then touched all-time high of 29,618.59, before settling at fresh closing peak of 29,571.04 -gain of 292.2 points or 1%.
In eight successive sessions, the Sensex has zoomed by 2,224.22 points or 8 per cent. In five of those days, it has hit new highs.
Sentiments remained buoyant as foreign flows continued into domestic equities. On Friday, foreign investors bought shares worth Rs 2,019.98 crore in cash market. In past one week, foreign investors have pumped in almost Rs 6,550 crore.
The NSE Nifty on Tuesday opened at 8,871.35 and breached the 8,900-mark for the first time as it touched all-time high of 8,925.05. It ended with a gain of 74.90 points, or 0.85%, at new closing peak of 8,910.50.
Capital goods sector stocks hogged the limelight after the US President Barack Obama and Prime Minister Narendra Modi
unveiled a deal aimed at unlocking billions of dollars in nuclear trade and deepening defence ties.
In key earnings, stocks of Maruti Suzuki India rose by 2.12% after the country's largest carmaker reported 17.8% growth in net profits for the third quarter.
Other prominent gainers among the 30 Sensex stocks include Axis Bank, Cipla, ICICI Bank, Tata Motors, ITC Ltd, HDFC Bank, Bharti Airtel, L&T, HDFC Ltd and SBI.
Among Sensex components, 19 stocks gained, while 11 led by Dr Reddys, Infosys, M&M, Coal India and HUL declined.
Buying activity gathered further momentum as funds and investors were seen creating positions on hopes of pick up in foreign investments in India after the ECB launched a landmark bond-buying stimulus programme to revive euro zone economy.
A mixed trend in global markets amid optimism that the actions of Greece's new government would not force the nation to leave the euro currency bloc, also influenced sentiment.
Sectoriwse, the BSE Banking index gained the most by surging 2.30%, followed by capital goods index 1.84%, auto index 1.24%, FMCG index 1.14%, realty index 1.03% and power index 0.88%.
In line with overall trend, smallcap index rose 0.51% and mid-cap index was up 0.79%.