Sen­sex at new high on brisk FII buy­ings

The Political and Business Daily - - FRONT PAGE -

Sen­sex on Thurs­day ended at a new peak of 26,271.85 and Nifty scaled 7,800 mark for the first time at close as FIIs con­tin­ued to pour in money. The bench­mark is pup­shed up by buy­ing in the last ses­sion to 26,271.85 gain­ing 124.52 points.

EX­TEND­ING the win­ning run to eighth straight day, Sen­sex to­day ended at a new peak of 26,271.85 and Nifty scaled 7,800 mark for the first time at close as FIIs con­tin­ued to pour in money en­thused by steps to at­tract over­seas in­vest­ment and en­cour­ag­ing cor­po­rate earn­ings.

Be­sides, pos­i­tive cues from Asia af­ter strong Chi­nese man­u­fac­tur­ing data kept the sen­ti­ment on a firm foot­ing although in­dices showed signs of profit-book­ing early on.

Metal, IT and FMCG coun­ters were in de­mand while some of the con­sumer durable, pharma and power stocks saw in­vestors tak­ing some profit off the ta­ble, said traders.

Sen­sex-based shares like ITC, In­fosys, RIL, HDFC Bank, Tata Steel, HUL, Hin­dalco and Wipro notched up hand­some gains and kept the mo­men­tum on the pos­i­tive side.

The bench­mark BSE S&P 30share Sen­sex moved in a nar­row range and mostly in neg­a­tive ter­rain till af­ter­noon, but buy­ing in the last ses­sion pushed up the Sen­sex by 124.52, or 0.48 per cent, to end at 26,271.85. It also recorded in­tra­day­high of 26,292.66. Both in­tra­day high and clos­ing level val­ues sur­passed their pre­vi­ous peaks.

In eight days, its long­est win­ning streak since Septem­ber 2012, the gauge has now ral­lied 1,265 points. The Sen­sex has in­creased 24 per cent this year so far, the best among ma­jor global mar­kets, as FIIs have pumped USD 12 bil­lion in shares.

Sim­i­larly, the 50-is­sue CNX Nifty of the NSE im­proved by 34.85 points, or 0.45 per cent, to end above 7,800-mark for the first time in the his­tory at 7,830.60. It reg­is­tered new in­tra-trade peak of 7,835.65. In eight days, Nifty has ral­lied 376.45 points.

The Cabi­net to­day gave goa­head to FDI cap hike inin­sur­ance to 49 per cent, paving way for in­flow of as much as Rs 25,000 crore for­eign funds. Yes­ter­day, the FII limit for in­vest­ment in govern­ment se­cu­ri­ties was hiked by USD 5 bil­lion within the to­tal cap of USD 30 bil­lion.

Be­sides, the govern­ment may soon take a de­ci­sion on eas­ing FDI in Rail­ways and De­fence sec­tors.

For­eign Port­fo­lio In­vestors bought shares worth a net Rs 652.40 crore yes­ter­day as per pro­vi­sional data from the stock ex­changes.

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