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Sensex closes at new lifetime high of 31,109, Nifty above 9600

India TV Business Desk Mumbai 29 May 2017, 16:55:19 IST
India TV Business Desk

Extending its record-breaking run for the third day, the benchmark Sensex today surged to close at a new life high of 31,109 while the Nifty ended above 9,600 for the first time ever as ample liquidity pushed up buying. 

The NSE Nifty too soared to an all-time high of 9,622.30 after touching a low of 9,547.70 in early trade. 

The BSE 30-share Sensex resumed on a negative note and cracked below the 31,000-mark to touch a low of 30,869.90 briefly, but but quickly bounced to yet another lifetime high of 31,214.39. 

It closed up 81.07 points, or 0.26 per cent, at a new peak of 31,109.28, breaching its previous record closing of 31,028.21, reached on May 26. It also went past previous intra-day record of 31,074,07 scaled on May 26. 

During the session, the Sensex swung almost 345 points both ways. The index has now risen by 807.64 points in three straight sessions. 

The broader 50-share NSE Nifty also maintained its bull run and touched a new peak of 9,637.75 (intra-day). It settled higher by 9.80 points, or 0.10 per cent, at a new peak of 9,604.90, beating its previous record closing of 9,595.10, recorded on Friday. It also broke the previous intra-day record of 9,604.90 reached on May 26. 

Brokers said apart from sustained buying by domestic institutions as well as retail investors, a firming trend at other Asian bourses as investors brushed off Pyongyang's missile launch, helped key indices to scale lifetime highs. 

Domestic institutional investors (DIIs) have been supporting the ongoing rally by pumping sizeable funds into markets. DIIs bought shares worth Rs 1,008.56 crore, while Foreign portfolio investors (FPIs) sold shares worth Rs 274.14 crore on Friday, as per provisional data from the stock exchanges. 

Among the sectoral index, FMCG rose the most by surging 1 per cent, followed by metal index 0.10 per cent. 

ITC Ltd was up 2,.07 per cent, Hind Unilever rose 1.53 per cent, HDFC Ltd 1.46 per cent, HDFC Bank 0.66 per cent and RIL 0.54 per cent. 

In the Asian region, Hong Kong's Hang Seng rose 0.09 per cent while Japan's Nikkei up 0.16 per cent in their early deals. Shanghai Composite Index too was up 0.07 per cent. The US Dow Jones Industrial Average ended 0.01 per cent lower on Friday.