Mumbai: The BSE Sensex on Friday soared to the life-time high of 34,175.21 and the NSE Nifty scaled the historic 10,562.80 mark in late morning trade as banking, metal and realty stocks advanced following continuous foreign fund inflows and increased buying by domestic institutional investors.
The 30-share Sensex spurted 205 points, or 0.60 percent, to all-time high of 34,175.21 points, breaching its previous record high (intra-day) of 34,137.97 scaled on 27 December.
The gauge had gained 176.26 points in the previous session.
Sentiment got a lift following an improvement in liquidity in the market on sustained inflows by foreign funds amid the government moving forward on its bank recapitalisation
programme, brokers said.
The finance ministry on Thursday sought Parliament's nod for extra expenditure of Rs 80,000 crore towards recapitalisation of bad loans-saddled public sector banks through bonds.
Foreign portfolio investors (FPIs) bought shares worth a net of Rs 212.05 crore, while Domestic Institutional Investors (DIIs) made purchases worth a Rs 325.24 crore yesterday, as per provisional exchange data.
Banking behemoth SBI rallied 0.83 percent while Punjab National Bank gained 1.50 percent. Bank of Baroda also gained 0.67 percent. Private peers ICICI Bank, Yes Bank, IndusInd Bank, HDFC Bank and Kotak Bank too rose by up to 3.15 percent.
All the sectoral indices led by metal, consumer durables and bank, trading in the positive zone with gains of up to 1.41 percent.
The 50-share Nifty also hit a new high of 10,562.80 by soaring 58 points, or 0.54 percent. It also cracked previous record (intra-day) of 10,552.40 points reached on 27 December.
Globally, in the Asian region, Japan's Nikkei rose 0.55 percent, Hong Kong's Hang gained 0.18 percent, while China's Shanghai Composite Index rose 0.23 percent in their early deals.
The US Dow Jones Industrial Average continued its record-setting run by ending 0.61 percent higher in yesterday's trade.
Published Date: Jan 05, 2018 12:02 PM | Updated Date: Jan 05, 2018 12:02 PM