Sensex zooms 137 points, closes above 38,000-mark for first time
Benchmark Sensex soared 137 points today to close above the 38,000mark for the first time, while the broader Nifty too ended at a fresh lifetime high on unabated buying by participants
Benchmark Sensex soared 137 points today to close above the 38,000-mark for the first time, while the broader Nifty too ended at a fresh lifetime high on unabated buying by participants.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
The 30-share Sensex jumped 136.81 points, or 0.36 per cent, to end at 38,024.37, breaking its previous record close of 37,887.56 reached yesterday.
The index has taken 11 sessions to scale the 38,000 mark from 37,000 level reached on July 26.
The broader Nifty rose 20.70 points, or 0.18 per cent, to close at 11,470.70 -- surpassing its previous high of 11,450 reached yesterday.
Brokers said sentiment got a lift on uninterrupted foreign and domestic fund inflows amid strong corporate earnings.
On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 568.63 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 30.25 crore yesterday, provisional data showed.
Meanwhile, rising for the third day, the rupee firmed up by 18 paise to 68.45 against the US dollar in opening trade today on continued selling of the American currency by exporters and banks amid foreign capital inflows.
Forex dealers said besides sustained selling of the greenback, a higher opening of the domestic equity markets boosted the local unit at the interbank forex market.
However, the dollar's strength against some currencies overseas capped the gains.
Yesterday, the rupee had gained by 5 paise to end at 68.63 against the US currency.