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.

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E-mail ID will not be published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

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

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

Varun Dutt

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture