Sensex creates a record at 34,087 points, oil stocks jump
The key indices of the Indian equity markets closed on Tuesday’s trade at new highs, with the Sensex closing above the 34,000-level for the first time.
The benchmark Sensex on Wednesday achieved yet another record by scaling 34,087 on the back of a rally in healthcare, power and oil stocks.
Oil prices surged to the highest level since mid-2015, breaching above the USD 60 a barrel, after a pipeline blast in Libya restricted Opec production.
The 30-share Sensex was up 76.71 points, or 0.22 per cent, to scale a new high of 34,087.32, breaching its previous intra-day record of 34,061.88 hit on Tuesday.
The gauge had gained 254.33 points in the previous two sessions.
The broader Nifty was however flat, up 1.75 points, or 0.01 per cent, at 10,533.25 in the morning.
Major movers were Sun Pharma, NTPC, ONGC and Tata Motors, gaining up to 2.88 per cent.
Buying by domestic institutional investors continued ahead of December expiry on Thursday.
Asian stocks were mixed in a holiday-shortened week.
Domestic institutional investors (DIIs) purchased equities worth a net Rs 544.50 crore yesterday while foreign portfolio investors (FPIs) sold shares worth a net Rs 44.07 crore, provisional data showed.