Stock Market hit record closing highs, sensex rises 347 points to finish at 45,427; Nifty tops 13,350 | India Business News

NEW DELHI: Equity indices continued to rise on Monday with both the BSE and NSE scaling fresh record closing highs, amid persistent foreign fund inflows.
After scaling an intra-day high of 45,459, the 30-share BSE index surged 347 points or 0.77 per cent to finish at record closing of 45,427; while the broader NSE Nifty settled 97 points or 0.73 per cent higher at fresh peak of 13,355.
Top gainers in the sensex pack included ONGC, Bharti Airtel, Hindustan Unilever, ITC, HDFC and SBI with their shares rising as much as 3.28 per cent.
While, Kotak Bank, Nestle India, Bajaj Finance, Maruti and HDFC Bank were the biggest losers falling up to 1.39 per cent.
On the NSE platform, sub-indices Nifty PSU Bank, Pharma, Media and FMCG gained up to 2.79 per cent.
According to experts, the Reserve Bank’s commitment to ensure a broad-based growth by maintaining a dovish tone continued to bode well for equities
“There is really no negative news at the moment, and investors are maintaining the status quo. The expectation is that things will get better from a liquidity perspective,” Umesh Mehta, head of research at Samco Securities told news agency Reuters.
“Unless something really negative happens, on the vaccine front, there should not be any major correction,” he added.
Meanwhile, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,969.59 crore on a net basis on Friday, according to provisional exchange data.
(With agency inputs)

Source link