Record rally: Sensex crosses 72,000 mark – Times of India

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MUMBAI: Rising for the fourth consecutive session, the sensex and Nifty both recorded new all-time peaks on Wednesday with foreign funds buying aggressively. The sensex started on a strong note led by HDFC Bank and Infosys, and touched recorded an all-time high of 72,120 points and closed just a tad off that mark at 72,038, up 702 points. This was the first time the benchmark went past the 72K mark.
Nifty also followed a similar trajectory: It opened high, recorded a life-high mark at 21,676 points and closed at 21,655, up 213 points.

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According to Siddhartha Khemka of Motilal Oswal Financial Services, domestic markets surged higher supported by positive global cues and sharp decline in India’s current account deficit, to 1%. “Healthy macro data and rally in global markets helped (the Indian market) make new highs even in the holiday season.”
For Thursday, “while the derivatives monthly expiry may infuse some volatility, the undertone remains bullish with the market making steady gains in the last few weeks”, Khemka said.
The day’s gains came mainly on the back of strong foreign fund buying. At the close of session, foreign portfolio investors (FPIs) had a net buying figure of Rs 2,926 crore, BSE data showed. In contrast, domestic funds were net sellers at Rs 192 crore.
The day’s gains also made investors richer by Rs 2.8 lakh crore with BSE’s market capitalisation now at Rs 368 lakh crore, official data showed. Of the 30 sensex stocks, 28 closed with gains. Of these, HDFC Bank, Infosys and L&T contributed the most to the index’s gain. The two stocks that closed lower were NTPC and Tech Mahindra.



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