Sensex, Nifty at new record levels on FII flows, global trend
The benchmark index Sensex continued its record setting spree for the fourth straight day as buying by FIIs in banking and oil & gas stocks
Mumbai: The benchmark index Sensex continued its record setting spree for the fourth straight day as buying by FIIs in banking and oil & gas stocks pushed the barometer up by 119.07 points to close at fresh all-time high of 22,214.37 today.
The Nifty index of the National Stock Exchange too bettered its record closing level by 40.35 points, or 0.61 per cent, at 6,641.75 points.
The 30-share Sensex touched a record intra-day peak level of 22,307.74, while Nifty shot to intra-day high of 6,673.95 points.
Both the indices have touched record levels in the last four sessions on continued buying by FIIs, brokers said.
FIIs, according to provisional Sebi data, put USD 171.26 million in equities today.
Positive global trends and major participants buying to cover their pending positions on the last day of settlement in the derivatives segment also supported the uptrend to some extent, brokers said.
Banking major SBI rose the most by 4.04 per cent among Sensex scrips after a foreign brokerage upgraded the stock to buy.
Reliance Industries rose by 1.34 per cent on reports that the company has bagged two offshore exploration blocks in Myanmar. Bharti Airtel gained 4 per cent on positive feedback on the stock by stock brokers.
Brokers said rate sensitive stocks were back in demand on hopes that RBI may keep interest rates steady next week as inflation has weakened.
In 30-BSE index components, 20 stocks gained.
Losses in IT, auto and metal stocks restricted the gains. Sesa Sterlite fell the most by 1.86 per cent while Infosys was down by 0.50 per cent.
The public sector undertaking sector index gained the most by rising 1.48 per cent to 6,228.67, followed by consumer durable index by 1.46 per cent to 6,317.57.
Oil and gas index rose by 1.28 per cent to 9,389.44 and realty index by 1.06 per cent to 1,405.30.