Stock markets: Equity benchmark indices Sensex and Nifty continued their record-breaking rally on Tuesday, reaching new all-time high levels in early commerce, amid fresh overseas fund inflows and shopping for in banking counters. A constructive development in the US markets on Monday additionally contributed to the home benchmark indices optimism.
The 30-share BSE Sensex jumped 395.57 factors to succeed in its record intra-day peak of 66,985.50. The NSE Nifty climbed 99.8 factors to hit its all-time high of 19,811.25.
From the Sensex pack, IndusInd Bank, Axis Bank, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Maruti and Asian Paints have been among the many greatest gainers. Bharti Airtel, Tech Mahindra, Titan, ExtremelyTech Cement, Tata Consultancy Services and Tata Steel have been among the many laggards. In Asian markets, Tokyo quoted in the inexperienced, whereas Seoul and Shanghai have been buying and selling decrease.
The US markets ended in constructive territory on Monday. Foreign Institutional Investors (FIIs) continued their shopping for exercise as they purchased equities price Rs 73 crore on Monday, based on change information.
“The global market construct continues to be favourable for the bulls. The declining dollar and the capital flows to emerging markets that it triggers can impart resilience to the market. However, high valuations and possible profit booking can restrain the rally. A healthy consolidation can be the near-term trend,” mentioned V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global oil benchmark Brent crude climbed 0.38 per cent to USD 78.80 a barrel. The BSE benchmark had jumped 529.03 factors or 0.80 per cent to settle at its new all-time closing high of 66,589.93 on Monday. The Nifty went up by 146.95 factors or 0.75 per cent to finish at a record high of 19,711.45.
Rupee rises against US dollar
The rupee was buying and selling in a slim vary against the US dollar in the morning session on Tuesday, because the assist from constructive home equities and weak American foreign money was negated by rising crude oil costs.
Market contributors stay cautious forward of retail gross sales information from the US and the UK’s inflation information this week, foreign exchange merchants mentioned. At the interbank overseas change, the home unit opened at 82.01.
In early commerce, the rupee additionally touched a high of 81.97 against the American foreign money. On Monday, the rupee had settled at 82.03 against the dollar. Traders mentioned home fairness benchmarks scaling all-time high levels and weak spot in the American foreign money abroad boosted investor sentiments and restricted the depreciating bias. The dollar index, which gauges the dollar’s power against a basket of six currencies, fell 0.09 per cent to 99.74.
(With PTI inputs)
