Monday 18 January 2021
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Sensex scales new peak

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Economy Sensex scales new peak

 

Mumbai : The benchmark BSE Sensex and the broader Nifty scaled to new life-time highs of 32,687.32 and 10,242.45 points, respectively, in opening session on the back of gains in banking, FMCG, auto and oil and gas stocks.

Traders said, domestic institutional buyers are buying continuously which has bolstered the sentiment.

The rally came on the back of widespread gains led by metal, auto, FMCG, banking and oil & gas stocks.

The 30-share Sensex soared 254.63 points, or 0.78 per cent to scale a new high of 32,687.32, breaking its previous intra-day record of 32,686.48 hit on August 2.

The 50-share NSE Nifty too spurted by 75 points, or 0.73 per cent to scale a fresh life-time high of 10,242.45, surpassing its previous intra-day record of 10,191.90 touched in Friday.

A positive trend at other Asian markets  boosted the sentiment.The US Dow Jones Industrial Average was also positive on Friday.

Hong Kong’s Hang Seng and Japan Nikkei were trading higher in the morning trade.

The sentiments have improved tremendously after high frequency data indicated a strong recovery in the economy.Stock markets have started surging on the report of strong recovery and inflow in domestic mutual funds.

The Sensex finally clsoed 200.95 points higher at 32633.64 and Nifty 55.80 points higher at 10230.90

 

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