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Sensex zooms 216 points to end at record high of 32,245; Nifty closes at new peak of 9,966
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Sensex zoomed 216.98 points to end at record high of 32,245.87 while Nifty gained 51.15 points to close at new peak of 9,966.40 as market heavyweight Reliance Industries Ltd continued to surge on optimism about its outlook for the core business and telecom venture.
The Sensex touched a high of 32,320.86 points and a low of 32,058.33 points during intra-day trade. However, the BSE market breadth was bearish with 1,389 declines and 1,314 advances.
Top gainers in Nifty were Wipro (2.39 percent), Reliance (2.32 percent), TCS (1.79 percent), Bankbaroda (1.70 percent), ITC (1.48 percent), ACC (1.37 percent), Adaniports (1.44 percent), Ibulhsgfin (1.28 percent), Cipla (1.24 percent), HDFCbank (1.24 percent)
The Benchmark Nifty was just a couple of points away from hitting 10,000 level.
Nifty was up 54.75 points or 0.55 percent to 9,970.00 while the BSE Sensex was up 220.76 points to 32,249.65 at 2 pm.
BSE Sensex was trading higher at 172.26 points or 0.54 percent at 32,201.15 at 10.40 am.
Meanwhile, the rupee lost 13 paise against the US currency to trade at 64.45 in late morning session.
Asian stocks slipped on Monday as demand for riskier assets ebbed after their recent strong gains, while the European Central Bank`s apparent equanimity at the euro`s two-year highs left the dollar languishing.
Gold prices touched their highest in four weeks on Monday, supported by political uncertainty in the United States that pushed the dollar to its lowest in over a year.
The dollar struggled near a 13-month low against a basket of major currencies as U.S. political woes dampened hopes for quick passage of Trump`s stimulus and tax reform agendas.
The rupee dropped by 11 paise to 64.43 against the US currency in the opening session due to fresh dollar demand from importers.
The rupee opened lower at the interbank foreign exchange market and slid by 11 paise to 64.43 per dollar in early trade. It had closed at 64.32 per dollar on Friday.
The Sensex, which opened at 32,100.22 points, was trading at 32,082.51 points (at 9.18 am), higher 53.62 points or 0.17 per cent from Friday`s close at 32,028.89 points.
Among the top gainers from the trade were Fortis Healthcare, Tata Sponge, Vijaya Bank, HPCL and Amtek Auto, registering an eight percent growth.
However, shares of Lupin were up by two percent, followed by a surge in the shares of Wipro, Reliance Industries and Adani Ports.
BSE Sensex hit life-time high of 32,135.91 points in opening trade on Monday as oil, banking and IT stocks gained. The NSE Nifty too scaled new peak of 9,939.30 points.
Stay tuned here for latest updates on Indian markets, including BSE Sensex, NSE Nifty, Indian rupee and MCX gold.