Stock market: Nifty scales fresh peak of 10K, Sensex climbs 235 points
The rally came on the back of buying in capital goods, auto, power, PSU and banking stocks, rising by up to 1.44%.business Updated: Sep 18, 2017 11:58 IST
The benchmark Nifty today climbed to new life high of 10,167.15 and the Sensex surged over 235 points in the opening session on fresh capital inflows by foreign funds amid positive global cues.
The rally came on the back of buying in capital goods, auto, power, PSU and banking stocks, rising by up to 1.44%.
The 50-share NSE Nifty jumped 81.75 points, or 0.81%, to scale a life high of 10,167.15, breaking its previous intra-day record of 10,137.85 hit on August 2.
In sync with general trend, the NSE Bank Nifty breached the 25,000 mark to hit all-time time of 25,062.70.
The 30-share Sensex too was in bullish form, rising 235.45 points, or 0.72%, at 32,508.06. The gauge had gained 610.64 points in the previous seven sessions.
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 125.55 crore while foreign portfolio investors (FPIs) bought equities of Rs 418.86 crore on Friday, showed provisional data.
Major gainers were L&T, Tata Motors, Bajaj Auto, Asian Paints, Bharti Airtel, NTPC, Coal India, Maruti Suzuki, Kotak Bank, Power Grid, HDFC Bank and SBI.
Continued buying by domestic institutional investors (DIIs) and fresh fund inflows by foreign investors, which had been on selling spree, bolstered the trading sentiment, traders said.
Besides, a firming trend at other Asian markets following another record finish on Wall Street influenced the sentiment, they added.
Hong Kong’s Hang Seng was trading higher by 1.07%, while Shanghai Composite rose 0.25 per cent in late morning trade. Japanese financial markets are closed for a public holiday.
The US Dow Jones Industrial Average closed at new highs in Friday’s trade.