MUMBAI: Rising for the 11th consecutive session on the back of positive domestic economic data, the sensex gained 320 points on Friday to a record high close of 67,839 points. In intraday trades, the index touched a life-high mark of 67,927 points.
The sensex has record an intraday high for the second day in a row. The 11-day winning streak for the sensex is the longest since October 2007. In September alone, the sensex has gained nearly 5% or 3,007 points.
Nifty, after scaling a life-high at 20,222 points, closed at 20,192, up 85 points on Friday. Positive data from the US, China and the EU supported the rally, market players said. The day’s gains were led by domestic fund buying that showed a net inflow of Rs 1,939 crore, while foreign investors were net buyers at Rs 164 crore.
According to Siddhartha Khemka of Motilal Oswal Financial Services, the market continued its winning streak following their global peers, boosted by better-than-expected Chinese and US economic data as well as optimism that the European Central Bank may be close to peak interest rates.
“Nifty has been scaling new highs over the last few sessions as sentiments strengthened post the successful G20 execution, which is likely to bolster India’s economy in the global arena. Further lower CPI and wholesale inflation in India are comforting amidst the global inflationary scenario,” Khemka said.
The day’s session started on a strong note with the sensex up 140 points. It touched an all-time high late in the session and remained in the positive territory throughout the day. Unlike Thursday, however, mid- and small-cap stocks were subdued on Friday. The session added about Rs 50,000 crore to investors’ wealth with BSE’s market capitalisation at Rs 326.1 lakh crore.
