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Sensex, Nifty break records as mkts rise for 6th straight day

Sensex Nifty break records as mkts rise for 6th straight day Surging for the sixth straight session, the benchmark Bombay Stock Exchange (BSE) Sensex on Tuesday rose about 30 points to a new closing peak of 26,420.67 and the Nifty edged up 23 points to end at a record 7,897.50 following across-the-board gains on positive domestic and global cues.

Tuesday was the second day in a row that broader indices logged new life-time highs and concluded at fresh peaks.

On Monday, they rose over 1 per cent each on oil price drop, lower inflation data and Prime Minister Narendra Modi’s pledge to boost manufacturing and infrastructure in his August 15 speech.

The 30-share Sensex opened on a strong footing and rose quickly to new intra-day high of 26,530.67 points as buying momentum picked up. It settled for the day at 26,420.67, a new record at closing, by gaining 29.71 points or 0.11 per cent.

Its previous record close of 26,390.96 and intra-day high of 26,413.11 was witnessed on Monday. The gauge has now gathered over 1,090 points in six straight sessions.

Of the 30 Sensex scrips, 19 rose, while 11 ended lower. Auto, realty, power, oil and gas, capital goods, PSU and healthcare shares were in demand, while IT sector counters faced some pressure, brokers said.

The National Stock Exchange (NSE) Nifty, comprising 50 shares, after breaching the 7,900-mark for the first time ever, closed the session 23.25 points, or 0.30 per cent, higher at new record high of 7,897.50 – crossing its previous record high of 7,874.25.

The broader index touched intra-trade record high of 7,918.55 points, surpassing previous record of 7,880.50 touched in Monday’s trade.

Brokers said encouraging Q1 earnings, easing of geo-political tensions, continued fund flows and weak crude prices, hovering at 14-month low have buoyed trading sentiments. Besides, hopes that government will take more steps to strengthen economy also triggered buying by foreigners, they said.

However, profit-booking at record levels towards the fag-end, trimmed gains in several stocks and pulled down the Sensex and Nifty from life-time highs, traders said.

Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 473.42 crore yesterday as per provisional data.

Sectorwise, the BSE Auto index rose the most by climbing 2.25 per cent, followed by Realty index (1.63 per cent), Power index (1.25 per cent), Capital Goods (1.11 per cent) and PSU index (1 per cent). Midcap index ended 1.10 per cent higher and the Smallcap barometer by 1.21 per cent.