Sensex jumps 494 points to all-time high, Nifty also hits new record
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Mumbai Local stock markets remained bullish on Monday as both the benchmark indices…Sensex and Nifty… closed at their new all-time highs. The market gained momentum amid the rise in global markets and capital inflows from foreign institutional investors. The market was also supported by the rise in Reliance Industries, which has a strong share in the index. BSE Sensex based on 30 shares closed at a new record level of 74,742.50 points with a gain of 494.28 points or 0.67 percent. At one time during trading, it had risen by 621.08 points to reach a record level of 74,869.30 points.
National Stock Exchange’s Nifty also closed at a record level of 22,666.30 points with a gain of 152.60 points or 0.68 percent. At one point during trading, it jumped 183.6 points to its highest ever level of 22,697.30 points. Among Sensex stocks, Maruti, Mahindra & Mahindra, NTPC, JSW Steel, Larsen & Toubro, Reliance Industries, Axis Bank and Power Grid were the major gainers. On the other hand, loss making companies include Nestle, Wipro, Tata Consultancy Services, HDFC Bank, Titan, HCL Technologies and Infosys.
Deepak Jasani, head of retail research at HDFC Securities, said, “Most of the global stock markets were in an upward trend. The reason for this is that investors are keeping an eye on the US inflation this week and the European Central Bank’s interest rate decision. Vinod Nair, head of research at Geojit Financial Services, said, “Positive news from various sectors and Sentiment remains strong with companies expecting better fourth quarter financial results. The pace was all-round.
Sectors like auto, realty, oil and gas performed well…while the information technology sector performed weak due to fears of weak growth in the fourth quarter due to slowdown in expenditure. BSE Midcap index gained 0.26 percent while Smallcap index There was a loss of 0.06 percent. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and Hong Kong’s Hang Seng remained in the positive zone, while China’s Shanghai Composite remained in the loss.
There was a bullish trend in early trading in the major markets of Europe. American market Wall Street was in profit on Friday. According to stock market data, foreign institutional investors bought shares worth Rs 1,659.27 crore on Friday. Meanwhile, global oil benchmark Brent crude fell 0.81 per cent to $90.43 per barrel.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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