Markets smash records:Sensex ends above 30k, Nifty at new peak

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Markets smash records:Sensex ends above 30k, Nifty at new peak

Mumbai, Apr 26 (PTI) Markets raced past milestones on a

record-setting spree today, with the benchmark Sensex closing

above the 30,000-mark for the first time, while the broader

Nifty hit a new peak, buoyed by unabated funds inflows and a

global rally.

Stocks saw frenzied buying, in line with global shares,

which have been on a high after the first round victory of

centrist Emmanuel Macron in French presidential elections.

Investors are also keeping an eye on US President Donald

Trump’s much-awaited tax reforms.

Traders said the impressive show by the ruling BJP in

Delhi civic polls added to the positivity.

The BSE 30-share Sensex opened on a strong footing and

surged to a lifetime high of 30,167.09 points in intra-day

trade, before settling at 30,133.35, up 190.11 points, or 0.63

per cent.

This surpassed its previous record close of 29,974.24,

reached on April 5. The gauge had hit its previous intra-day

high of 30,024.74 on March 4, 2015.

The Sensex has gained 768.05 points or 2.62 per cent in

three days.

Similarly, the broader 50-issue NSE Nifty scaled a new

high of 9,367 before finally settling 45.25 points, or 0.49

per cent higher at 9,351.85, a new record closing.

Its previous closing high of 9,306.60 was hit in

yesterday’s trade. It also broke the previous intra-day record

of 9,309.20.

“Market has made a higher high on account of rising

global optimism due to ease in political risk in Eurozone and

expectation of tax reform in the US.

“Volatility emerged during the late hours due to profit

booking but short covering ahead the expiry navigated the

direction back to north. Optimism on earnings and continued

buying by local investors is directing the recent rally in the

market,” said Vinod Nair, Head of Research, Geojit Financial

Services.

The rupee strengthened past the 64-mark to a near 21-

month high of 63.93 (intra-day) against the dollar, which

added to the momentum.

Meanwhile, foreign portfolio investors (FPIs) and

domestic institutional investors bought shares worth a net Rs

178.82 crore and Rs 998.26 crore respectively yesterday, as

per provisional data from the stock exchanges.

Overseas, Asian indices ended higher following overnight

rally in US stocks on strong earnings announcements and

expectations surrounding US President Donald Trump’s impending

tax reforms.

Tokyo’s Nikkei ended up 1.1 per cent, while Hong Kong’s

Hang Seng rose 0.5 per cent, its fifth straight day of gains.

Shanghai Composite Index edged up 0.2 per cent.

Key indices in Europe, however, were mixed in their

morning deals, with Paris CAC 40 rising 0.1 per cent, London’s

FTSE slipping 0.06 per cent and and Frankfurt’s DAX 30

declining 0.03 per cent.

Back home, of the 30-share Sensex pack, 18 scrips ended

higher while 12 closed lower.

Major gainers were ITC 3.36 per cent, M&M 3.29 per cent,

HDFC 2.36 per cent, HUL 1.78 per cent, ICICI Bank 1.61 per

cent, Tata Motors 1.17 per cent, Bharti Airtel 1.14 per cent,

Maruti 0.88 per cent, HDFC Bank 0.73 per cent and Asian Paints

0.73 per cent.

However, Adani Ports fell 2.31 per cent, Infosys 1.61 per

cent, Dr Reddy’s 1.31 per cent, Power Grid 1.30 per cent,

Reliance 1.13 per cent, Wipro 0.80 per cent and ONGC 0.66 per

cent.

Among BSE sectoral and industry indices, FMCG rose 2.04

per cent, auto 1.01 per cent, bankex 0.82 per cent, finance

0.74 per cent and metal 0.47 per cent.

However, realty fell 2.95 per cent, energy 1.13 per cent,

IT 1.08 per cent, oil&gas 1.02 per cent, teck 0.89 per cent,

power 0.77 per cent, utilities 0.76 per cent, consumer

durables 0.61 per cent and healthcare 0.58 per cent.

The market breadth turned negative as 1,954 stocks ended

lower, 952 closed higher while 139 ruled steady.

The total turnover on BSE amounted to Rs 5,021.73 crore,

higher than Rs 4,006.89 crore registered during the previous

trading session.

This is published unedited from the PTI feed.