Markets at new highs on capital inflows, earnings optimism
By PTI | Published: 17th July 2017 04:41 PM |
MUMBAI: The Sensex and the Nifty today made the most of the momentum and registered new all-time peaks at 32,074 and 9,916, respectively, building on optimism about corporate earnings.
Asian shares ruled firm, picking up cues from stronger than expected growth in China and expectations that the Federal Reserve will tread with care in tightening its policy, given lacklustre economic data, which led to a record close in the US on Friday.
Investors were optimistic that blue-chip companies might post encouraging first quarter numbers in coming days. On top of it, monsoon progress so far has been above-normal.
The 30-share Sensex jumped further to set a lifetime high of 32,131.92, before ending up 54.03 points, or 0.17 per cent, at a new record 32,074.38. It broke its previous life high of 32,037.38, hit on July 13. The gauge has lost 16.63 points on Friday.
The Nifty stayed touched a new peak of 9,928.20 intra- day, breaking the earlier record of 9,913.30 touched on Friday. The 50-share index ended above the 9,900 level for the first time by surging 29.60 points, or 0.30 per cent, at new peak of 9,915.95, surpassing its previous closing high of 9,891.70 hit on July 13.
Stocks of Wipro emerged as the top gainer among Sensex stocks, rising 3.12 per cent ahead of its board meeting to discuss buyback of shares.