Sensex touches 37,000 Peak, Nifty At All-Time High Of 11,172
Markets had a field day on Thursday as both the key equity benchmarks hit life-time highs. The S&P BSE Sensex traded above Mount 37,000 at 37,014.65 while the broader Nifty hit a fresh lifetime high of 11,172.20. In the first few minutes of the trade, the Sensex traded 118.43 or 0.32 per cent higher at 36,976.66 level. The broader Nifty50, which opened at 11,132.95, hit a fresh lifetime high of 11,172.20. Thirty-three out of 50 Nifty stocks advanced in trade.
At 10:47 am, the Sensex traded at 36,969.74 with a gain of 111.51 points or 0.30 per cent. The top gainers in the 30-share pack were SBI (up 4.27 per cent), Bharti Airtel (up 1.49 per cent), ICICI Bank (up 1.44 per cent), Tata Motors (up 1.11 per cent), and ITC (up 0.89 per cent).
The Nifty50 was at 11,164.20, up 32.20 points or 0.29 per cent. The top gainers in the 50-share benchmark were SBI (up 4.21 per cent), Indiabulls Housing Finance (up 2.66 per cent), UltraTech Cement (up 2.57 per cent), Eicher Motors (up 2.53 per cent), and ICICI Bank (up 1.33 per cent).
Airtel and ITC will both report their June quarter earnings later in the day. On Wednesday, L&T reported a 36 per cent rise in profit after tax for April-June at Rs. 1,200 crore as compared to Rs. 900 crore in the last quarter.
Nifty PSU Banking index led the gains as all 12 stocks advanced in trade.
Covering-up of short positions by participants ahead of July futures and options (F&O) expiry tomorrow also supported the upmove, brokers and experts said.
Strong liquidity in the market following unabated buying by domestic institutional investors and encouraging Q1 earnings by some companies lifted the mood, news agency Press Trust of India quoted analysts as saying.
“The compromise reached between the US and EU on trade guided the markets. Locally, Indian markets derivatives settlement has seen huge short-covering,” AK Prabhakar, Head of Research, IDBI Capital told NDTV.
Thursday marks the expiry of futures and options contracts for the month of July.
US President Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers, easing immediate concerns about global trade tensions.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent. Australian shares fell 0.4 per cent and Japan’s Nikkei stock index was 0.2 per cent lower. In China, the Shanghai Composite index fell 0.6 per cent and blue-chip shares lost 0.9 per cent, according to a Reuters report.
According to provisional data from the NSE, foreign portfolio investors sold shares worth Rs. 1,195.75 crore while domestic institutional investors bought equities worth Rs. 97.64 crore, on Wednesday. (With agencies inputs)
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Source:Zee news
Sensex
