Sensex Hits Record High, Crosses 38,000 Mark For First Time; Nifty at 11,470


Shared News | August 9, 2018 10:35 AM IST

Sensex, Nifty hit all time high today
The benchmark index Sensex has crossed the 38,000 mark today, after opening 100 points up powered by a rally in market heavyweight including ICICI Bank, SBI, Reliance, Maruti and TCS. ICICI Bank was up 13 points at Rs 331.05 while Reliance Industries was up by 10 points at Rs 1227. Experts say fresh buying by FII inflows and sustained investment by domestic institutional investors continue to fuel the market rally.

Nifty, the benchmark index of the National Stock Exchange, is also up 20 points at 11,470. The top gainers on NSE include ICICI Bank, Cipla, Lupin and Sun Pharma. Among the losers were Titan, Hindustan Unilever and ONGC.

Amid positive global cues and better-than-expected quarterly results, the Indian equity markets continue to record new highs. According to experts, the inflow of foreign funds and healthy buying in consumer durables, banking and oil and gas stocks have pushed the equity markets further up.

The BSE Sensex was up 221.76 points on Wednesday to close at 37,887.56, while the broader NSE Nifty jumped 60.55 points to close above the 11,400-mark for the first time.

RIL, SBI, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank, Yes Bank and HDFC Bank were among the major gainers yesterday. The Nifty Bank index also breached the 28,000 level for the first time on Wednesday.

Reliance Industries closed 2.85 per cent up to close at a fresh high of Rs 1,217.25.

According to provisional data on Wednesday, Foreign portfolio investors (FPIs) were net buyers at Rs 314.83 crore, while domestic institutional investors (DIIs) sold equities worth Rs 319.90 crore.

Asian shares were mixed in early trade amid rising trade tensions between the US and China.

Hong Kong’s Hang Seng was up 0.89 per cent and Shanghai Composite Index surged 1.83 per cent, while Japan’s Nikkei shed 0.27 per cent in early deals.

US stock market indices closed mostly lower yesterday as investors grappled with a fresh round of tariff clashes between the Trump administration and China.

The US Dow Jones Industrial Average ended 0.18 per cent lower yesterday.

(With agency Inputs)

Leave a Reply

Your email address will not be published.