Festive atmosphere in the stock market, Sensex-Nifty reached its highest level
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Mumbai Domestic stock markets took a huge leap on Friday and reached their highest ever level. Both Sensex and Nifty hit all-time highs with gains of more than 1.5 per cent on the back of impressive GDP data and increased attraction of foreign investors. BSE’s 30-share index Sensex jumped 1,245.05 points or 1.72 percent to reach 73,745.35 points. This is its all-time high.
During trading, it also jumped by 1,318.91 points or 1.81 percent to reach a record intra-day peak of 73,819.21. National Stock Exchange (NSE) index Nifty also closed at a new closing level of 22,338.75 with a jump of 355.95 points or 1.62 percent. During trading, it also touched a new intra-day high of 22,353.30 with a gain of 370.5 points. Analysts said the rise in global markets boosted domestic equity markets and investors bought heavily. Among Sensex companies, Tata Steel jumped more than six percent while JSW Steel rose by more than four percent.
Larsen & Toubro, Titan, Maruti, IndusInd Bank, ICICI Bank and Tata Motors also gained. However, even in this bullish period, HCL Technologies, Infosys and Tech Mahindra lagged behind. The major role behind this market boom was the announcement of GDP growth rate of 8.4 percent in the October-December quarter. This is the highest quarterly growth in the last one and a half years. Along with this, the growth estimate for the current financial year has also been revised to 7.6 percent. Apart from this, PMI data released on Friday also indicated a rise in manufacturing activities in February. Factory output reached a five-month high in February due to strong domestic and external demand.
In other markets of Asia, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng closed with gains. European markets were also trading on a positive note. On Thursday, American markets closed with gains. According to stock market data, foreign institutional investors (FIIs) have again become buyers. FIIs made net purchases worth Rs 3,568.11 crore on Thursday. Meanwhile, global oil benchmark Brent crude rose 0.82 percent to US $ 82.58 per barrel.
The country’s major stock exchanges BSE and NSE will hold a special trading session in the equity and equity derivatives segment on Saturday to test their preparedness to deal with a major disruption or failure. The functionality will be tested by transferring transactions from the Primary Site (PR) to the Disaster Recovery (DR) site during a special trading session. Transactions are usually transferred to the DR site to continue trading in the event of a major disruption or failure at the primary site.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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