Sensex breaches 28,000 mark on sustained fund inflows, Nifty hits 8,363.65

BSE Sensex

Mumbai, Nov 5: The benchmark BSE Sensex breached 28,000-mark for the first time and the NSE Nifty hit a new peak of 8,363.65 in early trade on Wednesday. The trends is being witnessed on sustained fund inflows amidst optimism over encouraging corporate earnings along with falling global crude oil prices.

According to reports, brokers opine that falling global crude oil prices which dipped to its lowest closing point since October 2011 also influenced trading sentiments.

The 30-share index flared up by 141.57 points, or 0.50%, to hit a new peak of 28,001.95, surpassing previous intra-day record of 27,969.82 reached on Monday. The gauge had shed 5.45 points in the previous session.

Markets remained closed on Tuesday on account of Muharram.

All the sectoral indices, led by realty, consumer durables and power, were trading in positive zone with gains up to 1.50%.

Meanwhile, the 50-share NSE Nifty gained 39.50 points, or 0.47%, to hit a new lifetime high of 8,363.65. It had touched the intra-day lifetime high of 8,350.60 on Monday.

Marketmen said persistent inflow of foreign funds and sustained buying by retail investors, buoyed by a series of economic reforms undertaken by the government and better-than-expected earnings by blue-chip companies, lifted the key indices to new highs.

Prominent gainers among the 30 Sensex stocks were Bajaj Auto, BHEL, Cipla, ITC, L&T, SBI, Sun Pharma, TCS, Tata Motors and Tata Power.

Among other Asian markets, Japan’s Nikkei fell 0.21%, while Hong Kong’s Hang Seng shed 0.62% in early trade on Wednesday.

The US Dow Jones Industrial Average closed 0.10% higher in Tuesday’s trade.

(With Agency Inputs)

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