Sensex rallies 200 points to hit lifetime high in early morning trade, Nifty reclaims 12,000-mark; SBI, ITC among top gainers

Top gainers in the Sensex pack included IndusInd Bank, SBI, ITC, HDFC, RIL, Axis Bank and Bajaj Finance, advancing up to 3%.

FP Staff November 07, 2019 10:14:25 IST
Sensex rallies 200 points to hit lifetime high in early morning trade, Nifty reclaims 12,000-mark; SBI, ITC among top gainers
  • The 30-share index was trading 202.93 points higher at 40,672.71 while Nifty rose 50.20 points to 12,016.25

  • Tata Steel, Vedanta, ONGC, Hero MotoCorp, Tata Motors, Yes Bank and Bajaj Auto fell up to 2%

  • According to experts, fresh booster to the realty sector strong corporate earnings and sustained foreign fund inflow buoyed domestic market sentiment

Continuing its previous day's rally, market benchmark BSE Sensex jumped over 200 points to hit its lifetime high of 40,676 in early session on Thursday led by gains in index heavyweights HDFC, ITC and RIL, as positive domestic cues boosted investor sentiment. The broader Nifty reclaimed 12,000-mark after it finished at 11,966.05 in the previous session.

The 30-share index was trading 202.93 points, or 0.50 percent, higher at 40,672.71.

Similarly, the broader NSE Nifty rose 50.20 points, or 0.42 percent, to 12,016.25.

Top gainers in the Sensex pack included IndusInd Bank, SBI, ITC, HDFC, RIL, Axis Bank and Bajaj Finance, advancing up to 3 percent.

Sensex rallies 200 points to hit lifetime high in early morning trade Nifty reclaims 12000mark SBI ITC among top gainers

Representational image. Reuters.

On the other hand, Tata Steel, Vedanta, ONGC, Hero MotoCorp, Tata Motors, Yes Bank and Bajaj Auto fell up to 2 percent.

In the previous session, the 30-share Sensex settled at a fresh closing peak, rising 221.55 points, or 0.55 percent, to 40,469.78, while Nifty finished at 11,966.05, showing a gain of 48.85 points, or 0.41 percent.

On Wednesday, the Nifty had crossed 12,000-mark during the afternoon trade. This was the third time this year, the Nifty crossed the 12,000-mark.

On 23 May this year, Nifty had crossed 12,000-mark for the first time. Nifty had registered its closing peak of 12,088.55 on 3 June 2019.

Foreign institutional investors (FIIs) purchased shares worth Rs 1,011.49 crore in the capital market on Wednesday, while domestic institutional investors sold equities worth Rs 1,117.25 crore, data available with stock exchange showed.

The government on Wednesday approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared non-performing assets (NPAs) or admitted for insolvency proceedings, as it looks to boost growth by steering consumption in real estate and associated sectors.

According to experts, the fresh booster to the real estate sector, which will have a positive impact on other industries as well, strong corporate earnings and sustained foreign fund inflow have buoyed domestic market sentiment.

Globally, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading on a negative note amid reports of a possible delay in the US-China trade agreement.

Shares on Wall Street too ended on a weak note on Wednesday.

On the currency front, the rupee depreciated 10 paise against the US dollar to trade at 71.07 in early session.

Brent futures, the global oil benchmark, slipped 0.09 percent to $61.70 per barrel.

With inputs from agencies

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