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For the First Time, Sensex Breaches 31,000-mark, Nifty Tops 9,600

The Sensex clocked a fresh record high of 31,000 on Friday, while the Nifty was nearing 9,600 as higher derivatives rollover led to strong follow-up buying in index heavyweights. At 1.39 pm, the 30-share Sensex climbed 275.18 points to scale 31,025.21, while the Nifty was up 80.25 points at 9,590.00.

News18.com

Updated:May 26, 2017, 3:06 PM IST
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For the First Time, Sensex Breaches 31,000-mark, Nifty Tops 9,600
The Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai. (Photo: Reuters)

New Delhi: The Sensex clocked a fresh record high of 31,000 on Friday, while the Nifty topped 9,600 as higher derivatives rollover led to strong follow-up buying in index heavyweights.

At 1.39 pm, the 30-share Sensex climbed 275.18 points to scale 31,025.21.

All the sectoral indices, led by metal, capital goods, auto and power, were trading in positive zone with gains of up to 3.53 per cent.

The benchmark BSE Sensex has risen nearly 26 per cent since the BJP-led NDA government came to power in May 2014. Marketmen said persistent inflow of foreign funds and sustained buying by retail investors, buoyed by a series of positive cues such as early onset of monsoon, upbeat quarterly earnings and finalisation of rates by the GST Council, fuelled the rally.

Firmness in the rupee against the dollar and fall in global crude oil prices also influenced trading sentiment, brokers said.

Creation of new positions by participants following the beginning of the June futures and options (F&O) series too added to the momentum, they added.

Prominent gainers among the 30 Sensex stocks were Tata Steel, Adani Ports, Reliance Industries, Asian Paints, Power Grid, Bharti Airtel, L&T, Infosys, HDFC Ltd, M&M, Hero MotoCorp, ICICI Bank, ITC Ltd, ONGC, Maruti Suzuki, Wipro and Coal India, gaining up to 5.99 per cent.

A mixed trend at other Asian markets and a better opening in Europe also helped the key indices.

(With PTI inputs)

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