Sensex touches 37,000-mark for first time-ever; Nifty scales new peak of 11,172; rupee strengthens
Sensex crossed the 37,000-mark by jumping 156.42 points, or 0.42 percent, to 37,014.65 in early trade today, breaching its previous intra-day record of 36,947.18 hit yesterday.
Mumbai: The BSE Sensex hit the 37,000 level for the first time today on widespread buying in capital goods, FMCG, realty and banking stocks amid heavy buying by domestic institutional investors and positive global cues.
The NSE Nifty, too, touched a new peak of 11,172.20.
Short-covering of bets, today being the last session of July expiry in the derivatives segment, and strengthening rupee against the dollar, kept the overall market sentiment high.
The 30-share index crossed the 37,000-mark by jumping 156.42 points, or 0.42 percent, to 37,014.65 in early trade today, breaching its previous intra-day record of 36,947.18 hit yesterday.
Strong gains in capital goods, FMCG, realty, banking, PSU, auto, healthcare, infrastructure, consumer durables and oil and gas stocks helped the index top the new milestone.
The NSE Nifty spurted 40.20 points, or 0.36 percent, to hit a new peak of 11,172.20, surpassing its previous (intra-day) record of 11,171.55 hit on 29 January.
Analysts said strong liquidity in the market following unabated buying by domestic institutional investors (DIIs) and encouraging Q1 earnings by some companies lifted the mood.
On a net basis, DIIs bought shares worth Rs 97.64 crore while foreign portfolio investors (FPIs) sold shares worth Rs 1,195.75 crore yesterday, provisional data showed.
Top gainers that helped Sensex scale its new peak were SBI, Bharti Airtel, Tata Motors, ITC, Coal India, L&T, ONGC, HDFC Bank, RIL, Maruti, M&M, Bajaj Auto, IndusInd Bank, Kotak Bank and HDFC, rising up to 1.79 percent.
While, Asian Paints, Hero MotoCorp, Wipro and Infosys were among the top losers, shedding up to 1 per cent.
Asian stocks climbed tracking gains in US shares. US equities advanced yesterday, after US President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war.
Hong Kong's Hang Seng was up 0.56 percent, Japan's Nikkei gained 0.02 percent in early deals.
Shanghai Composite Index, however, shed 0.01 percent.
The US Dow Jones Industrial Average ended 0.68 percent higher yesterday.
The rupee continued to recover for the second day, climbing 10 paise to 68.69 against the US dollar on increased selling of the greenback by exporters and banks amid rising domestic equity market.
Forex dealers said, besides increased selling of the American currency by exporters as well as banks, a higher opening in the domestic equity market supported the rupee.
The dollar's weakness against some currencies overseas as the country's new home sales data came out disappointing, supported the rupee.
Yesterday, the local currency had rebounded by 15 paise to end at a fresh one-week high of 68.79 against the greenback on bouts of dollar selling by exporters and corporates.
Meanwhile, the benchmark BSE Sensex rose by 156.42 points, or 0.42 per cent, to quote an all-time high of 37,014.65 in early trade today.
In terms of sectoral indices, auto, media and metal incurred losses of over 3 percent, while pharma rose by 1.70 percent. India VIX rose by 24.84 percent to jump to 20.80 levels. BSE Midcap fell by 3.23 percent to 24,846.51 while BSE Smallcap declined by 2.61 percent to 24,846.51
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. Broader markets outperformed, with BSE Midcap rising by 1.61 percent to 25,646.47 and BSE Smallcap gaining 1.81 percent to end at 28,450.31. India VIX rose by 2.82 percent to end at 18.02 levels
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The top gainers at BSE were Bharti Airtel, Asian Paints and Power Grid and the top losers were Bajaj Finance, Bajaj Financial Services, Reliance, NTPC and Titan.