Sensex rises 123 points to end at new closing peak
Strong buying activity in banking, automobile and FMCG stocks lifted the Indian equity markets on Thursday with the Sensex rising by 123.78 points to end at new closing peak of 31,369.34. The wider Nifty of the National Stock Exchange (NSE) closed at 9,674.55 points -- up 36.95 points or 0.38 per cent. It touched an intra-day high of 9,700.70 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,298.42 points, closed at 31,369.34 points, up 0.40 per cent, from its previous close at 31,245.56 points.
The Sensex touched a high of 31,460.70 points and a low of 31,264.86 points during the intra-day trade.
The BSE market breadth was bullish -- with 1,534 advances and 1,178 declines.
Markets climbed as the US Fed minutes showed that there is still no unanimity among policymakers over inflation outlook and the pace of interest rate increase, if any, going ahead. The minutes of the previous US Federal Reserve meeting on June 13-14 again brought to the fore lingering doubts about the strength of the revival in the US economy and its ability to withstand a hike in borrowing costs.
For emerging economies, including India, this meant investors are not going to pull out foreign capital any time soon.
Most Asian stocks declined over fears of possible consequences of North Korea firing a missile earlier this week.
In the US, stocks ruled mixed amid a disappointing manufacturing report and a tumble in crude futures. Foreign portfolio investors (FPIs) bought shares worth a net Rs 227.57 crore yesterday, as per provisional data.