Indices climb to a new peak on hopes of reforms

Tags: Stock Market
Both the key indices, S&P BSE benchmark Sensex and CNX Nifty, climbed to a new peak during the week on fresh buying from operators and investors on hopes of strong economic reforms in the first budget under the Narendra Modi government.

Strong foreign capital inflows into equity market along with upbeat US data and easing oil prices boosted the market sentiment.

Shares of Auto, Power, Healthcare, Capital Goods, Metal, PSU and Banking firmed up on good buying enquiries.

Small-cap and Mid-cap shares also moved up on good demand from retail investors.

The Sensex opened higher at 25,179.55 and moved up further to an all-time high of 25,999.08 before ending at 25,962.06, showing a sharp gain of 862.14 points or 3.43 per cent. It had lost 296.54 or 1.17 per cent in the previous three weeks.

The NSE 50-share Nifty also rose to an all-time high of 7,758.00 before finishing the week at 7,751.60, showing a gain of 242.80 points or 3.23 per cent. It had also by 74.60 points or 0.98 per cent in the previous three weeks.

Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 4,367.51 cr during the week as per the SEBI data, including the provisional figure of July 4.

US stocks rose with the Dow Jones Industrial Average hitting 17,000 for the first time and the S&P 500 index also scaling records after June jobs report.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Signalling good times, current account deficit is likely to grow from here on

    The current account deficit (CAD) numbers for April-June quarter declined sharply to 1.7 per cent of GDP.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Disruptive innovation in education

The past two weeks had a fair share of interesting ...

Rajgopal Nidamboor

Regain the spirit of focused power

For aeons, the human race has been experimenting with a ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture