Sensex, Nifty close at new highs on fund inflows

Extending their winning run to the eighth straight session, the benchmark Bombay Stock Exchange Sensex on Tuesday jumped by 292.20 points to end at new closing peak of 29,571.04 and the National Stock Exchange Nifty surpassed the 8,900-mark for the first time on optimism over Indo-US nuclear deal amid sustained foreign fund inflows.

The benchmark 30-share BSE barometer resumed higher at 29,451.65 and then touched a record high of 29,618.59, before settling at a new closing record of 29,571.04, with a gain of 292.2 points or 1 per cent.

In eight successive sessions, the Sensex has zoomed by 2,224.22 points or 8 per cent. In five of those days, the gauge has hit new highs.

Market sentiments remained buoyant as foreign flows continued into domestic equities. On Friday, foreign investors bought shares worth Rs 2,019.98 crore in cash market. In past one week, foreign investors have pumped in almost Rs 6,550 crore.

The broader 50-issue Nifty on Tuesday opened at 8,871.35 and breached the 8,900-mark for the first time as it touched an all-time high of 8,925.05. The NSE Nifty Futures ended the day with a gain of 74.90 points (or 0.85 per cent), at a new closing peak of 8,910.50.

The capital goods sector stocks hogged the limelight after US President Barack Obama and Prime Minister Narendra Modi unveiled a deal aimed at unlocking billions of dollars in nuclear trade and deepening defence ties.

In key earnings, stocks of Maruti Suzuki India rose by 2.12 per cent after the country’s largest carmaker reported a 17.8 per cent growth in net profits for the third quarter ended December 31, 2014.

Other prominent gainers among the 30 Sensex scrips include Axis Bank, Cipla, ICICI Bank, Tata Motors, ITC, HDFC Bank, Bharti Airtel, Larsen & Toubro, HDFC and SBI.

Among Sensex components, 19 stocks gained, while 11, led by Dr Reddy’s, Infosys, Mahindra and Mahindra, Coal India and HUL declined.

Buying activity gathered further momentum as funds and investors were seen creating positions on hopes of pick up in foreign investments in the country after the ECB launched a landmark bond-buying stimulus programme to revive euro zone economy.

A mixed trend in global markets amid optimism that the actions of Greece’s new government would not force the nation to leave the euro currency bloc, also influenced sentiment.

Sectoriwse, the BSE Banking index gained the most by surging 2.30 per cent, followed by Capital Goods index 1.84 per cent, Auto index 1.24 per cent, FMCG index 1.14 per cent, Realty index 1.03 per cent and Power index 0.88 per cent.

In line with overall trend, Small-cap index rose 0.51 per cent and Mid-cap index was up 0.79 per cent.

Nifty Futures

niftyfutures.org@imediaone.com

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