Sensex, Nifty hit new highs on slew of positive factors

Tags: Stock Market
Confidence echoed in domestic market sentiment for the second week in a row as heavy capital inflows, easing crude oil prices, strengthening rupee along with positive global cues led the BSE Sensex to end the week at near record-high and NSE to close at life-time high.

The week opened with investors cheering the Prime Minister's encouraging Independence Day speech which talked about making India the hub of manufacturing sector with a focus on improving infrastructure.

Later, market started to consolidate near its all-time peak, despite some correction in mid-week.

Continued FII buying amid encouraging US economic data resulting into positive global cues along with good retail investors participation also lifted the market sentiment.

The BSE S&P Sensex resumed higher and marked life time high of 26,530.67 before closing the week slightly lower at 26,419.55, still showing a gain of 316.32 points or 1.21 per cent.

In straight two weeks, it has zoomed 1,090.41 points or 4.30 per cent.

The NSE 50-share Nifty gained 121.50 points, or 1.56 per cent to log its record closing high of 7,913.20. It registered an intra-day new peak of 7,929.05.

Barring FMCG sector, the market saw broad-based buying as rest other 11 sectoral indices closed with gains led by consumer durables, healthcare, banking, auto, capital goods, PSUs, power and oil & gas shares.

Shares from mid-cap and small-cap companies also saw extensive buying from retail investors and outperformed the Sensex.

EDITORIAL OF THE DAY

  • RBI must now educate investors on the benefits of debt market

    It is uncommon for the central bank to act on a policy decision within a week of submission of a specialist report.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Japan needs more women in high office

Japan does not rank high in international tables, when it ...

Kuruvilla Pandikattu

Giving up faith is a complex act

We have met many people who have given up religion ...

Shona Adhikari

Belated recognition of women in America's modern art movement

This week we focus on a very important exhibition that ...