Nifty races past 17,000 points

Mumbai: Bulls remained in full control as the NSE’s Nifty-50 index raced past the 17,000 mark clocking fastest 1,000 points gains in just 28 days on surging liquidity wave, stronger rupee, rapid pace of vaccination and positive global cues. Nifty closed at new all time high of 17,132.20 points.

Bulls remained in full control as NSE's Nifty-50 Index raced past the 17000 mark clocking fastest 1000 points gains in just 28 days on surging liquidity wave, stronger rupee, rapid pace of vaccination and positive global cues.

Nifty closed at a new all time high of 17132.20 gaining 1.19 per cent or 201.15 points. The Sensex too raced past the 57000 mark and closed at a new all time high of 57552, up

662 points or 1.16 per cent. In August the Sensex gained 9.44 per cent while the Nifty-50 gained 8.68 per cent, the best month for the market this year so far and that too without much support from the foreign portfolio investors.

However, FPIs were net buyers on Tuesday of equities worth Rs 3,881.16 crore. FPIs seem to have anticipated healthy first quarter GDP growth which was due after the market hours.

"GDP expanded by 20.1 per cent year on year in Q1 FY22, as pandemic-induced low base effects and lower than expected losses from the second Covid wave boosted growth figures.

"India has been able to get through Q1 FY22 with limited economic losses, despite a debilitating second wave. As the country emerges through the pandemic, risks to growth remain centred on a possible third wave," said Rahul Bajoria, chief India economist, Barclays India.

BSE's market capitalisation soared above the

2.50 lakh crore mark for the first time.