Markets Continue Record-Setting Spree; Sensex, Nifty Hit New Highs

Sensex gained 292.20 points to end at new closing peak of 29,571.04 and Nifty breached 8,900-mark for the first time as investors cheered the strengthening of Indo-US trade ties.

Published: 27th January 2015 04:52 PM  |   Last Updated: 27th January 2015 04:52 PM   |  A+A-

SENSEX
By PTI

MUMBAI: Rising for the eighth straight day, markets continued their record-setting spree with benchmark Sensex today jumping 292.20 points to end at new closing peak of 29,571.04 and Nifty breaching 8,900-mark for the first time as investors cheered the strengthening of Indo-US trade ties.

Sustained FII inflows kept the momentum going for Indian shares despite mixed trend seen elsewhere in Asia in the wake of anti-austerity Syriza party's victory in Greek elections.

Hopes of pick up in foreign investments in India after the ECB launched a landmark bond-buying stimulus programme to revive euro zone economy provided good support, traders said.

The BSE Sensex resumed higher at 29,451.65 and rose further to lifetime high of 29,618.59 before ending at all-time closing high of 29,571.04, showing a gain of 292.20 points or one per cent.

The BSE Sensex has gained by 2,224.22 points of 8.13 per cent in the eight successive trading sessions.

The CNX 50-share Nifty also gained 74.90 points, or 0.85 per cent, to hit all-time closing high of 8,910.50 after hitting historic high of 8,925.05.

"Domestic markets upheld the prevailing upside momentum on Monday and scaled to newer highs....Buoyancy was triggered by the US president on his visit to India as he pledged

investment and loans worth USD 4 billion in order to promote trade and business with India," said Religare Securities, President-retail distribution, Jayant Manglik.

US President Barack Obama today left for Saudi Arabia, wrapping up his 3-day visit during which both the countries broke a seven-year logjam to operationalise a landmark civil nuclear deal, besides boosting defence and trade ties.

Capital goods sector stocks hogged the limelight after Obama and Prime Minister Narendra Modi unveiled a deal aimed at unlocking billions of dollars in nuclear trade and deepening defence ties.

In key earnings, stocks of Maruti Suzuki India rose by 2.12 per cent after the country's largest car maker reported 17.8 per cent growth in net profits for the third quarter.

Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 2,019.98 crore last Friday as per provisional data.

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