Monday, Nov 24, 2014

BSE Sensex hits new record on capital inflows

PTI | Mumbai | Posted: August 28, 2014 11:47 am

Continuing its winning streak for the sixth straight session, the benchmark BSE Sensex today climbed over 82 points to hit yet another record of 26,642.81 in opening trade, led by wide-spread gains on sustained capital inflows.

At 11.45 am, the Sensex was trading 57.83 up at 26.617.98.

Besides, covering-up of pending short positions by speculators on the last day of August series expiry in the derivatives segment also buoyed market sentiments.

The BSE 30-share barometer spurted by 82.66 points, or 0.31 per cent, to trade at new life-time high of 26,642.81, surpassing earlier record of 26,630.74 hit on August 25. The Sensex had gathered about 246 points in the past five days.

The NSE Nifty also maintained its rising trend and gained 28.60 points, or 0.36 per cent, to trade at 7,964.65 just shying away from its life-time high of 7,968.25 reached on August 25.

Besides widespread buying by funds and retail investors was seen on expectations of pick-up in foreign funds inflows after government notified increase in FDI limit to 49 per cent through approval route in the defence sector, brokers said.

Further, a mixed trend in other Asian markets and a higher closing on the US markets influenced the trading sentiments here, they said.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.55 per cent, while Japan’s Nikkei shed 0.34 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.09 per cent higher in yesterday’s trade.

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