Markets extend dream run; Sensex, Nifty soar to all-time highs

Tags: Stock Market
The benchmark indices of BSE and NSE continued their dream run ahead of polls, scaling new all-time highs on strong capital inflows from foreign funds, expectations of RBI keeping key rates unchanged in the next week's policy meet and a stable Government assuming charge at the Centre after the general elections.

Shares of PSU, power, banking, capital goods, metal, realty and refinery firms firmed up sharply on good buying support.

ONGC and RIL shares rose despite the Election Commission directing the Centre to put on hold the proposed hike in natural gas prices from April 1.

Mid and small-cap indices shot up by 3.21 per cent and 2.45 per cent respectively on strong demand from retail investors.

However, shares of IT and Pharma sectors declined on profit-booking.

The BSE Sensex opened higher at 21,827.50 and rose further to an all-time intra-day high of 22,363.97 before ending at a new closing peak of 22,339.97, a gain of 584.65 points, or 2.69 per cent, over the last week.

The NSE 50-share Nifty rose by 201 points, or 3.09 per cent, to register a historic closing high of 6,695.90. It recorded a life-time intra-day high of 6,702.60.

Hectic activity on expiry of derivative contracts on March 27 also helped domestic markets to remain upbeat.

Consistent pumping of money by FIIs boosted the market sentiment as they invested net Rs 7,562.57 crore during this week, including the provisional figure of March 28, as per the SEBI data.

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E-mail ID will not be published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

  • Not the best gift for Modi, but bypoll result may not affect BJP in long run

    In India’s hardball political landscape, there is little place for anyone to rest on their laurels, not the least if you are a successful prime mini

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

Skills education can boost industry

India’s manufacturing industry matters a great deal for the economic ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Gautam Gupta

In fashion, why quality must exceed quantity

Every time there’s a fashion week in India, my friends, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture