Metrovaartha-
07
February 2023 - 5:02 pm IST

Download Our Mobile App

Markets

Markets hit fresh all-time highs; rally for 5th day

Markets hit fresh all-time highs; rally for 5th day

Published:28 November 2022

Benchmark indices ended at fresh lifetime highs on Monday amid foreign fund inflows, a decline in crude oil prices and buying in index major Reliance Industries.

Mumbai | Benchmark indices ended at fresh lifetime highs on Monday amid foreign fund inflows, a decline in crude oil prices and buying in index major Reliance Industries.
Rallying for the fifth day in a row, the 30-share BSE Sensex climbed 211.16 points or 0.34 per cent to settle at 62,504.80, its fresh record closing high. During the day, it jumped 407.76 points or 0.65 per cent to its lifetime intra-day peak of 62,701.40.
The broader NSE Nifty gained 50 points or 0.27 per cent to end at 18,562.75, its record closing high.
"Sentiment and flows currently are acting as a strong catalyst for the markets which touched an all-time high. We are seeing domestic as also foreign investors being net buyers of equity aiding the momentum," said Lakshmi Iyer, CEO- Investment Advisory, Kotak Investment Advisors Limited.
Among the Sensex pack, Reliance Industries jumped the most by 3.48 per cent, followed by Nestle, Asian Paints, Bajaj Finserv, Wipro, ICICI Bank and IndusInd Bank.
Tata Steel, HDFC Bank, Bharti Airtel, HDFC and Mahindra & Mahindra were among the laggards.
"Despite unfavourable global cues, the domestic market reversed its early losses to trade at record highs. Following the decline in oil prices, oil & gas stocks led the rally in anticipation of margin gains, as ongoing protests in China fuelled demand concerns. Going ahead, global markets will depend on Powell's speech on Wednesday, which is crucial in maintaining the momentum, as the market seems to have factored in a moderation in the pace of rate hike," said Vinod Nair, Head of Research at Geojit Financial Services.
In the broader market, the BSE smallcap gauge climbed 0.77 per cent and midcap jumped 0.72 per cent.
Among sectoral indices, oil & gas climbed 1.49 per cent, energy (1.44 per cent), auto (0.64 per cent), consumer discretionary (0.59 per cent), industrials (0.46 per cent) and FMCG (0.29 per cent).
Commodities, telecommunication, utilities, consumer durables, power and teck were the laggards.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.
Equity exchanges in Europe were trading in the negative territory in the afternoon trade. Wall Street had ended mostly lower on Friday.
International oil benchmark Brent crude was trading 3.11 per cent lower at USD 81.03 per barrel.
Foreign Institutional Investors (FIIs) bought shares worth Rs 935.88 crore on Monday, as per exchange data. 


വാർത്തകൾ

Links

Sign up for Newsletter



Copyright ©
All rights reserved by Metrovaartha.com

Tags

Download Apps

Google Play App Store
  • |
  • |
  • |
  •  

© Copyright Metro vaartha 2022 All rights reserved.

top