Sensex, Nifty end the week on fresh highs
Mumbai: The BSE Sensex and the NSE Nifty continued the bull run during the week and ended above the 29,000-mark and 8,800-level respectively, also marking the all-time highs for both the indices on sustained capital inflows amid positive global sentiments.
Positive investor sentiments over Indian stocks saw the foreign participants liberally buying out shares even glitch due to Chinese market slump amid authorities curb on speculative lending were sidelined as domestic market garnered a whopping 1,156.45 points during the week.
The week saw sentiments getting bolstered by IMF optimistic prediction of India’s expected growth rate till 2016, stellar corporate earning results and government budget date announcement leading to hope of more reforms, later further garnished by European Central Bank (ECB) higher-than- expected stimulus announcement of 60 billion Euro a month leading to massive rally across the globe.
ECBs stimulus announcement is dynamic for emerging India as it may result additional fund flows.
The benchmark S&P BSE Sensex rallied to a life time intra-day high of 29,408.73 before settling at record of 29,278.34, gaining 1,156.45 points or 4.11 per cent over preceding weekend close.
Similarly, the broad-based CNX Nifty NSE also surged 8,866.40-mark for the first time and ended new mile-stone high at 8,835.60, a gain of 321.80 points, or 3.78 per cent, over the last weekend close.
Barring FMCG segment, healthy buying was witnessed in sectors of Capital Goods, Metals, Banks, HealthCare, Auto, Consumer durables, Realty, Tech, Power, IT and Oil&Gas well supported by shares from MidCap and SmallCap companies.