Sensex scales new closing peak of 40,302, Nifty gains 51 points ; Infosys, Vedanta, HDFC among top gainers

Equity benchmark BSE Sensex on Monday rose 137 points to hit a new closing high of 40,302, led by gains in IT, metal and financial stocks amid positive global cues

FP Staff November 04, 2019 17:23:55 IST
Sensex scales new closing peak of 40,302, Nifty gains 51 points ; Infosys, Vedanta, HDFC among top gainers
  • Equity benchmark BSE Sensex on Monday rose 137 points to hit a new closing high of 40,302, led by gains in IT, metal and financial stocks amid positive global cues

  • The index also hit its lifetime intra-day high of 40,483.21

  • The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30

Mumbai: Equity benchmark BSE Sensex clocked gains for the seventh straight session to settle at a fresh closing peak of 40,302 on Monday, buoyed by encouraging quarterly earnings, sustained foreign fund inflows and positive global cues.

The 30-share Sensex rose 136.93 points, or 0.34 percent, to end at an all-time high of 40,301.96, beating the previous record closing high of 40,267.62 touched on 3 June. The seven-session winning run is also the best since mid-March for the Sensex. The index also hit its record intra-day high of 40,483.21.

The broader NSE Nifty too advanced 50.70 points, or 0.43 percent, to close at 11,941.30.

Top gainers in the Sensex pack included Infosys, Vedanta, HDFC, Tata Steel, ONGC and ICICI Bank -- rising up to 3.05 percent.

HDFC shares rose after the company reported an over 76.3 percent rise in consolidated net profit at Rs 10,748.69 crore in the September quarter.

On the other hand, Maruti, Hero MotoCorp, IndusInd Bank, Tata Motor and PowerGrid lost as much as 2.54 percent.

Sensex scales new closing peak of 40302 Nifty gains 51 points  Infosys Vedanta HDFC among top gainers

Representational image. Reuters.

Sectorally, BSE metal, telecom, basic materials, IT, teck and finance indices rose up to 3.20 percent.

While BSE auto, realty, FMCG and consumer durables indices fell up to 1.29 percent.

Broader BSE midcap and smallcap indices rose up to 0.22 percent.

Experts said better liquidity from foreign funds, de-escalation in geopolitical risks and focus on upcoming reforms to revive growth also boosted investor sentiment.

Continuing their buying streak for the second straight month, overseas investors pumped in a net Rs 16,464 crore into the Indian capital markets in October 2019.

"Indian markets continued their upward rally as better than anticipated earnings attracted investors. Further, buoyant global markets have supported the Indian markets. For instance, passenger car sales grew last month for the first time since February 2019. On the flows front, FIIs have been net buyers for a second straight month...," Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management, said.

Meanwhile, the Indian rupee appreciated by 4 paise to 70.77 against the US dollar.

Brent crude futures, the global oil benchmark, rose 0.28 percent to $61.86 per barrel.

Globally, bourses in Shanghai, Hong Kong and Seoul settled higher on optimism over the US-China trade deal after China's commerce ministry on Saturday announced that top Chinese and US trade negotiators "reached consensus on principles".

Exchanges in Europe were also trading on a positive note in their respective early deals.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Interpol warns global law enforcement agencies of COVID-19-contaminated letters targeting political leaders
World

Interpol warns global law enforcement agencies of COVID-19-contaminated letters targeting political leaders

Interpol has added that certain infected individuals may actually move from affected areas to non-affected areas, and highlighted instances of individuals claiming to sell contaminated samples of body fluids online

COVID-19 has exposed need for stronger global supply chains, says South Africa President Ramaphosa
World

COVID-19 has exposed need for stronger global supply chains, says South Africa President Ramaphosa

The pandemic has taken an even greater toll on emerging economies already faced with poverty, inequality and underdevelopment, he added.