FII's push Sensex past 64,000 Nifty at 18,972 for the first time
- EP News Service
- Jun 28, 2023
MUMBAI: Sustained buying by Foreign Institutions and Portfolio Investors propelled the Indian bourse's benchmark indices to an all-time high, with the Bombay Stock Exchange (BSE) Sensex breaching the record 64,000 mark and the National Stock Exchange (NSE) Nifty scaling the 19,000 level in intra-day trade.
According to analysts along with strong buying by foreign funds and investors positive corporate earnings, upward trends in the global equity markets, especially in the US and United Kingdom and prediction of good monsoons resulted in bullish sentiments in the domestic equity markets.
In the past six months from December last year to today, foreign portfolio investors have bought stocks to the tune of US dollars 9.25 billion.
The Sensex jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44 points, while the Nifty zoomed 193.85 points or 1 per cent to reach its lifetime intra-day high of 19,011.25 points.
At the close of the day, Sensex closed up by 499.39 points or 0.79 per cent to settle at its lifetime closing high of 63,915.42 points, while NSE scaled 154.70 points or 0.82 per cent to end at a record high of 18,972.10 points.
In the last two trading sessions the markets capitalisation of BSE has grown by Rs 3.44 trillion and at today's close the markets capitalisation of BSE stood at a whopping Rs 294.11 trillion.
Among the stocks in the Sensex, sustained buying in heavyweight stocks like Reliance Industries, ITC, L&T, Titan, Axis Bank and HDFC Bank added to the positive momentum in domestic stocks.
In the Nifty stocks, shares of Adani Enterprise and Adani Ports closed up by 5.63 percentage and 4.84 percentage respectively.
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