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Thursday, January 21, 2021

Sensex hits 47,000 intra-day on strong FPI flows

Most of the economic indicators show improvement with IIP growth of 3.6 per cent in October 2020, manufacturing sector PMI in the expansionary zone at 56.3 in November and sustained traction in the consumption demand.

By: ENS Economic Bureau | Mumbai | December 19, 2020 2:27:03 am
The Sensex, which touched a peak of 47,026, later retreated and closed at 46,960. (File)

Aided by sustained foreign portfolio investment, the benchmark Sensex on Friday hit the 47,000 mark in intra-day trading amid improving Covid situation in India and the vaccination programme. The BSE Sensex, which touched a peak of 47,026, later retreated and closed with a gain of 70 points at 46,960.69 and the Nifty Index rose 20 points to 13,760.55.

FPIs invested another Rs 2,721 crore on Friday, taking the total equity inflows to Rs 48,858 crore in December.

Hemant Kanawala, head–equity, Kotak Mahindra Life Insurance, said the current Covid situation gives the government room to open the economy further. Most of the economic indicators show improvement with IIP growth of 3.6 per cent in October 2020, manufacturing sector PMI in the expansionary zone at 56.3 in November and sustained traction in the consumption demand.

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