E-Paper
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.
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.
