Opening bell: Nifty reaches a new high, while Sensex gains a little
NEW DELHI: Early on Wednesday morning, the BSE’s Sensex saw a gain of almost 50 points, closing at 73,108. Nifty also increased by 51.05, hitting a record high of 22,249.40.
Of the Sensex, seventeen were showing gains, and of the Nifty, twenty-nine were in the green.
JSW Steel gained more than 2% in early trade, while increases of more than 1% were recorded by Mahindra & Mahindra, Tata Steel, and Bharti Airtel.
Asian markets displayed a range of trends: the Nikkei 225 in Japan was almost steady, while the Hang Seng in Hong Kong and the SSE Composite Index in China both saw gains.
Earlier on Tuesday, the Sensex closed just below its record top, while the Nifty concluded at a fresh record high powered by advances in banking companies. The Sensex concluded 349 points or 0.5% higher at 73,057, while the Nifty closed up 75 points or 0.3% at 22,197. For the last six sessions, both indexes have seen rises.
There was mixed activity across sectors, with purchasing seen in the real estate, banking, and finance industries.
Day’s gains were driven by domestic fund purchasing, which brought in a net inflow of Rs 1,491 crore, as per BSE data. At Rs 1,336 crore, foreign funds were net sellers, however.
Based on official figures, the market capitalization of BSE had a little decrease of about Rs 30,000 crore, reaching Rs 397.8 lakh crore, or almost $4.8 trillion.
The local market kept up its upward momentum, according to Motilal Oswal Financial Services’ Siddhartha Khemka, although the overall market closed the day down.
Investors are expecting a pre-election rise. According to Khemka, investors across the world are waiting for the US Federal Open Market Committee meeting minutes to be released in order to get a sense of the US Fed’s future plans.
