Breaking News
sensex
Representative Image
Breaking News

Sensex Crosses 37,000 for the 1st Time and Nifty Hits All Time High

Guwahati: On Thursday, for the first time, the BSE Sensex hit the 37,000 level on the widespread buying of capital goods. NSE Nifty also touched a new peak of 11,172.20. The expiry in the derivatives segment toughened rupee against the dollar, which kept the overall market sentiment high.

The Sensex rose to 86.27 points to get 37,014.65 points earlier today and was trading slightly lower at 36,983.59. The Nifty rose to 39.35 points to reach 11,172.20 points, before dropping to 11,167.60. Capital good gains in FMCG, banking, healthcare, infrastructure, consumer durables, oil and gas stocks helped the index to accomplish the new milestone. The NSE Nifty shot 40.20 points, which hit the new record of 11,172.20, beating its previous records of 11,171.55, which hit on 29th January.

It is due to the optimism, the companies’ earnings growth improved further, and after the US agreed on a trade deal with the European Union the stock market rose.

Experts said that strong liquidity in the market following persistent buying by domestic institutional investors and encouraging Q1 earnings by some companies lifted the mood. The data showed that  DIIs purchased shares worth  97.64 crore rupees while foreign portfolio investors (FPIs) sold shares worth  1,195.75 crore rupees. SBI, Bharti Airtel, Tata Motors, ITC, Coal India, L&T, ONGC, HDFC Bank, Maruti, M&M, Bajaj Auto, IndusInd Bank, Kotak Bank and HDFC were the eminent gainers that helped Sensex scale reach its new peak, which rose up to 1.79%. While, among the eminent losers were Asian Paints, Hero MotoCorp, Wipro, and Infosys, shedding up to 1%. US equities advanced yesterday after US President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker, which aimed at averting a transatlantic trade war. Hong Kong’s Hang Seng fell nearly by 213 points and Japan’s Nikkei got an increase of  0.02% in his early deals. The Indian rupee was trading at 14 paise higher, at 68.64, against the dollar.