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Sensex crosses 37,000 mark for the first time

The benchmark Sensex today crossed the 37,000 mark for the first time. The Nifty also climbed 40.20 points to hit life-time high of 11,172.2.

Short-covering of bets, today being the last session of July expiry in the derivatives segment, and strengthening rupee against the dollar, kept the overall market sentiment high.

The 30-share index crossed the 37,000 mark by jumping 156.42 points, or 0.42 per cent, to 37,014.65 in early trade today, breaching its previous intra-day record of 36,947.18 hit yesterday.

Strong gains in capital goods, FMCG, realty, banking, PSU, auto, healthcare, infrastructure, consumer durables and oil and gas stocks helped the index top the new milestone.

The NSE Nifty spurted 40.20 points, or 0.36 per cent, to hit a new peak of 11,172.20, surpassing its previous (intra-day) record of 11,171.55 hit on January 29.

Analysts said strong liquidity in the market following unabated buying by domestic institutional investors (DIIs) and encouraging Q1 earnings by some companies lifted the mood.

On a net basis, DIIs bought shares worth Rs 97.64 crore while foreign portfolio investors (FPIs) sold shares worth Rs 1,195.75 crore yesterday, provisional data showed.

Top gainers that helped Sensex scale its new peak were SBI, Bharti Airtel, Tata Motors, ITC, Coal India, L&T, ONGC, HDFC Bank, RIL, Maruti, M&M, Bajaj Auto, IndusInd Bank, Kotak Bank and HDFC, rising up to 1.79 per cent.

While, Asian Paints, Hero MotoCorp, Wipro and Infosys were among the top losers, shedding up to 1 per cent.

Asian stocks climbed tracking gains in US shares. US equities advanced yesterday, after US President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war.

Hong Kong’s Hang Seng was up 0.56 per cent, Japan’s Nikkei gained 0.02 per cent in early deals.

Shanghai Composite Index, however, shed 0.01 per cent.

The US Dow Jones Industrial Average ended 0.68 per cent higher yesterday.

The rupee opened at 68.71 against the dollar as opposed to its last close of 68.79.

 

 

 

News credit : Indiatoday

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