Mkts scale new peaks on monsoon optimism

Mkts scale new peaks on monsoon optimism

Sensex closes lifetime high by 370 pts; Nifty marks record closing level of 11,787

Mumbai: Indian benchmark equity indices Sensex and Nifty on Tuesday scaled new life-time closing highs as investors remained in an intense buying mode for fourth session in a row on "near-normal" monsoon forecast and bumper corporate earnings optimism.

The BSE gauge Sensex started off on a bullish note at 39,040.30 and hit a new intra-day record of 39,364.34. It, however, finally settled at 39,275.64, 369.80 points or 0.95 per cent higher, also marking its life-time closing high.

The index has added 690.29 points in the last four sessions. Similarly, the broader NSE Nifty opened higher at 11,736.20 and breached the psychological 11,800-level (intra-day) for the first time ever.

The NSE barometer settled the day at a new record closing level of 11,787.15, up 96.80 points or 0.83 per cent.

Financial stocks took charge of the rally driven by sustained foreign fund inflows. Sectorally, among the top performers were BSE bankex, rising 1.62 per cent, finance 1.08 per cent, consumer durables 1.16 per cent and telecom 1.03 per cent.

In the broader market, BSE largecap, midcap and smallcap indices underperformed the benchmark Sensex. However, the market breadth was tilted in favour of sellers as 1,298 stocks declined and 1,277 gained.

Elsewhere in Asia, markets in Japan, China and Korea ended on a positive note. In Europe, bourses in Germany, France and the UK were trading in the positive terrain in early deals.

Global crude oil benchmark Brent futures fell 0.11 per cent to $71.10 per barrel. The Indian rupee meanwhile weakened by 18 paise to close at 69.60 against the US dollar on Tuesday amid strengthening of the American currency and high crude oil prices.

Meanwhile, foreign institutional investors (FIIs) purchased equities worth Rs 1,038.58 crore on Tuesday and domestic institutional investors (DIIs) bought shares to the tune of Rs 37.22 crore, provisional data available with stock exchanges showed.

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