Sensex gathers 200 points to reach new highs; Ingenious above 12,000
Mumbai, November 7 () The BSE Sensex market benchmark index rose more than 200 points to reach its lifetime maximum of 40,676 in the initial session on Thursday, led by gains in the heavyweights of the HDFC index, ITC and RIL, as national positive signals boosted investor sentiment.
The 30-share index traded 202.93 points, or 0.50 percent, higher at 40,672.71.
Similarly, the broader NSE Nifty rose 50.20 points, or 0.42 percent, to 12,016.25.
The main winners in the Sensex package included IndusInd Bank, SBI, ITC, HDFC, RIL, Axis Bank and Bajaj Finance, advancing up to 3 percent.
On the other hand, Tata Steel, Vedanta, ONGC, Hero MotoCorp, Tata Motors, Yes Bank and Bajaj Auto fell by up to 2 percent.
In the previous session, the Sensex of 30 shares was set at a new closing peak, rising 221.55 points, or 0.55 percent, to 40,469.78, while ending at 11,966.05, showing a gain of 48.85 points, or 0.41 percent.
Foreign institutional investors bought shares worth Rs 1,011.49 million in the capital market on Wednesday, while domestic institutional investors sold shares worth Rs 1,117.25, according to data available on the stock market.
The government approved on Wednesday a fund of Rs 25,000 crore to help complete more than 1,600 stagnant housing projects, including those that have been declared NPA or admitted for insolvency proceedings, as it seeks to boost growth by directing consumption in Real estate and associated sectors.
According to experts, the new impetus for the real estate sector, which will also have a positive impact on other industries, strong corporate profits and the sustained influx of foreign funds have boosted the sentiment of the domestic market.
Globally, exchanges in Shanghai, Hong Kong, Tokyo and Seoul were traded on a negative note amid reports of a possible delay in the trade agreement between the United States and China.
The actions on Wall Street also ended on a weak note on Wednesday.
On the front of the coin, the rupee depreciated 10 countries against the US dollar to trade at 71.07 at the beginning of the session. Brent futures, the world benchmark for oil, fell 0.09 percent to USD 61.70 per barrel. ANS ANS