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Markets on a roll: Sensex scales new peak, Nifty eyes 8,600


Mumbai, Nov 28 (PTI) The benchmark BSE Sensex spurted to a new peak of 28,765.52 and the NSE Nifty scaled a life-time high of 8,591.40 in opening trade today as December series in the derivative segment commenced on a strong footing on sustained fund inflows amid falling global crude prices.

Besides, positions enlarged by retail investors ahead of the September quarter GDP data to be released later in the day and RBI monetary policy review next week also influenced trading sentiment, brokers said.

The 30-share index, which had gained 100.86 points in the previous two sessions, zoomed by 326.61 points, or 1.14 per cent, to trade at a fresh record-high of 28,765.52, breaching previous peak of 28,541.96 reached on November 24.

All the sectoral indices, led by banking, consumer durables and auto, were trading in the positive territory with gains up to 2.03 per cent.

On similar lines, the National Stock Exchange index Nifty climbed 97.20 points, or 1.14 per cent, to scale a new peak of 8,591.40, surpassing its earlier record of 8,535.35, touched on November 25.

Sentiments bolstered on continued buying by foreign funds and retail investors as global crude oil prices fell to over 4-year lows, which is likely to help the government to tackle both current account and fiscal deficits and also lower subsidy bill, they said.

Globally, Brent crude prices dipped to over four-year low of USD 72.59 per barrel in Asian trade.

Among other Asian markets, Hong Kong’s Hang Seng index fell by 0.14 per cent, while Japan’s Nikkei moved up by 1.05 per cent in early trade today.

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