VoV Web Desk

Sensex, Nifty50 at new peaks; extend bull run for 3-weeks

Decrease Font Size Increase Font Size Text Size Print This Page

 Dec 23 : The key Indian equity indices rode the bulls for the third consecutive week and scaled new peaks ahead of the extended Christmas weekend as sentiments were boosted by the Gujarat election results, along with global cues and infusion of funds by domestic institutional investors (DIIs).

In another development, the week ended on a cheery note for the domestic equity markets with BSE’s market capitalisation crossing Rs 150 lakh crore (over $2 trillion) for the first time.

On the last trading day of the week (December 22), the barometer 30-scrip Sensitive Index (Sensex) closed trade at a fresh level of 33,940.30 points. It soared 477.33 points or 1.42 per cent from its previous week’s close at 33,462.97 points.

The Sensex also touched a new intra-day high of 33,964.28 points.

On the same day, the wider Nifty50 of the National Stock Exchange (NSE) crossed the 10,500 mark for the first time on an intra-day basis to scale a new high of 10,501.10 points.

The index closed trade at a fresh high of 10,493 points, soaring 159.75 points or 1.55 per cent from its previous week’s close of 10,333.25 points.

“The week gone by saw the Nifty surging higher. It was the third consecutive week of gains for the Nifty,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“Sectorally, the top gainers were realty, metal, auto and infrastructure indices. There were no losers,” he added.

On the currency front, the rupee closed almost flat at 64.05 against the US dollar from its last week’s close at 64.04.

“Indian equity benchmarks rose to record highs with the NSE Nifty50 index rising above 10,500 for the first time and the S&P BSE Sensex to a record high of 33,962 points. India’s stock market achieved a new milestone with BSE’s market capitalisation crossing Rs 150 lakh crore for the first time,” Arpit Jain, AVP at Arihant Capital Markets, told IANS.

“During the week, Gujarat election outcome cheered the market. Other developments included Finance Ministry forming a panel to frame policy on the bitcoin issue. However, FIIs (foreign institutional investors) remained net sellers during the week,” said Jain.

Provisional figures from the stock exchanges showed that FIIs sold scrips worth Rs 2,620.76 crore.

However, DIIs continued to pump in funds in the equities markets and invested funds worth Rs 3,526.21 crore during the week.(Agencies)

Leave a Reply

Your email address will not be published. Required fields are marked *