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Sensex Hits Record High of 40,345 as Improved Auto Sales, Fed Rate Cut Add Fuel on Dalal Street

Inching closer to its all-time intraday high, the 30-share index was trading 220.26 points, or 0.55 per cent, higher at 40,272.13, and the broader NSE Nifty advanced 64.80 points, or 0.55 per cent, to 11,908.90.

News18.com

Updated:October 31, 2019, 11:45 AM IST
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File photo of Bombay Stock Exchange.
File photo of Bombay Stock Exchange.

Mumbai: Market benchmark BSE Sensex surged over 293 points to hit its record intra-day high of 40,344.99 on Thursday led by rally in index heavyweights Infosys, SBI, HDFC Bank and TCS.

After opening on a strong note, the 30-share index was trading 263.69 points, or 0.66 per cent, higher at 40,315.56 in morning session. The broader NSE Nifty too advanced 71.85 points, or 0.61 per cent, to 11,915.95. Top gainers in the Sensex pack included SBI, Infosys, Tata Motors, Yes Bank and Sun Pharma, rising up to 4.35 per cent.

On the other hand, M&M, Tata Steel, TechM, PowerGrid and Axis Bank fell up to 1.09 per cent.

According to experts, hopes that the government will cut long term capital gain tax, dividend distribution tax and the securities transaction tax enthused domestic investors. Massive foreign fund inflow too boosted investor sentiments, traders said.

Foreign institutional investors purchased a whopping Rs 7,192.42 crore in the capital market, on Wednesday, while domestic institutional investors sold shares worth Rs 185.87 crore, data available with stock exchange showed.

Further, the US Federal Reserve's decision to cut its benchmark interest rate for the third straight time also strengthened market mood, they added.

Improved auto sales growth during the festival sessions, good quarterly results too added fuel on Dalal Street, traders said. Bourses in Hong Kong, Seoul and Tokyo were trading on a positive note, while those in Shanghai were in the red.

The rupee, meanwhile, appreciated 10 paise against the US dollar to trade at 70.80 in early session. Brent futures, the global oil benchmark, rose 0.30 per cent to $60.42 per barrel.

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Company Price Change %Gain
SBI 321.90 5.20
Bharti Airtel 393.05 8.43
ICICI Bank 499.85 0.24
Reliance 1,470.85 0.55
Yes Bank 68.70 -0.07
Company Price Change %Gain
Cipla 463.10 2.57
SBI 322.00 5.19
Bharti Airtel 393.20 8.42
Eris Life 410.15 -0.19
Yes Bank 68.70 -0.07
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Company Price Change %Gain
Bharti Infratel 227.15 8.87
Bharti Airtel 393.05 8.43
SBI 321.90 5.20
Grasim 755.15 2.89
Cipla 463.25 2.63
Company Price Change %Gain
Bharti Airtel 393.20 8.42
SBI 322.00 5.19
Kotak Mahindra 1,623.00 1.60
Sun Pharma 414.90 1.18
Tata Motors 168.60 0.96
Top Losers
Company Price Change %Gain
IOC 131.70 -3.76
Hero Motocorp 2,543.20 -1.87
BPCL 506.55 -1.57
Maruti Suzuki 7,147.20 -1.38
Vedanta 142.10 -1.32
Company Price Change %Gain
Hero Motocorp 2,542.85 -1.85
Maruti Suzuki 7,147.00 -1.38
ITC 250.65 -1.30
Vedanta 142.10 -1.29
NTPC 117.20 -1.14

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