Sensex, Nifty close at record high on firm global trend, FII inflows

Mumbai, June 16

Equity benchmark indices Sensex and Nifty closed at fresh lifetime highs on Friday following gains in banking, financial and capital goods stocks amid a firm trend in the global market.

A strengthening rupee and foreign capital inflows further bolstered sentiment, traders said.

The 30-share BSE index zoomed 466.95 points to settle at a record closing high of 63,384.58. During the day, it rallied 602.73 points to 63,520.36. The index scaled its earlier lifetime high of 63,284.19 on December 1 last year.

The NSE Nifty climbed 137.90 points to end at its lifetime peak of 18,826. Its previous record peak was 18,812.50.

On a weekly basis, the BSE benchmark jumped 758.95 points, and the Nifty climbed 262.6 points.

“Markets surged strongly on Friday and inched closer to the record high, tracking firm global cues. After the firm start, the Nifty index hovered in a narrow band in the first half. However, a sharp surge in the latter half helped the index to test 18,864.70 but it finally settled at 18,826 levels.

“Recovery in banking and financials combined with buying in FMCG, pharma and energy majors largely aided the rebound. Besides, the continued buying in midcap and smallcap space further added to the positivity,” Ajit Mishra, SVP – Technical Research, Religare Broking Ltd, said.

The buoyancy in the global markets, especially the US, is helping the index to maintain a bullish tone amid mixed domestic cues, Mishra added. Buying in index major Reliance Industries and HDFC twins also helped the markets to rebound.

Bajaj Finserv was the biggest gainer in the Sensex pack, rising 2.21%, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries and M&M. PTI

Stronger rupee bolsters sentiment

• The BSE benchmark zoomed 466.95 points to settle at a record closing high of 63,384.58. During the day, it rallied 602.73 points to 63,520.36
• The index scaled its earlier lifetime high of 63,284.19 on December 1 last year
• The NSE Nifty climbed 137.90 points to end at its lifetime peak of 18,826. Its previous record peak was 18,812.50