Market hits this year high; Sensex gains over 200 points, Nifty above 8,300-mark
Showing bullish trend, Sensex continued to gain strength this week and on Friday gained over 200 points, while the broader Nifty climbed above its key 8,300-mark, and market a new high in 2016.
Zee Media Bureau
Mumbai: Showing bullish trend, Sensex continued to gain strength this week and on Friday gained over 200 points, while the broader Nifty climbed above its key 8,300-mark, and market a new high in 2016.
The beginning of the July series derivatives contracts and positive global conditions kept investors' mood upbeat. The positive movement in Asian stocks and the overnight gains on Wall Street further indicated downslide in Brexit blues and gave strength to Indian indices.
All sectoral indices led by consumer durables, healthcare and metal were trading in the positive terrain. According to analysts, building of fresh long positions in the F&O segment by investors and speculators amid strong foreign fund inflows is keeping the market sentiment upbeat.
At 10:43 am, the 30-share index was trading at 27,207.82 up 208.10 points or 0.77 percent, while broad-based 50-share index was quoting 8,348, up 60 points.
Japan's Nikkei rose 0.8 percent after the yen gave back more territory seen during flight-to-quality moves earlier in the week. South Korea's Kospi added 0.3 percent.
Hong Kong is closed today for public holiday.
The US Dow Jones Industrial Average ended 1.33 percent higher on Thursday.