Mumbai : The domestic equity indices Sensex and Nifty reached new record highs in the beginning of trading on Monday, supported by significant foreign fund inflows and a rally in Asian markets. The BSE Sensex surged by 318.58 points, reaching a record high of 84,862.89, with 30 shares. The NSE Nifty jumped by 120.75 points, hitting a fresh all-time peak of 25,911.70.
The top performers among the 30 Sensex companies were Mahindra & Mahindra, Bharti Airtel, NTPC, State Bank of India, Kotak Mahindra Bank, Adani Ports, Tata Steel, and Tata Motors. ICICI Bank, HCL Technologies, JSW Steel, and ITC were part of the group of companies that performed poorly. According to exchange data, Foreign Institutional Investors (FIIs) purchased equities amounting to Rs 14,064.05 crore on Friday.
The bull in the market received a boost from the Federal Reserve when it decreased interest rates by 50 basis points on September 18th. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated that the markets rose sharply not just due to the rate cut, but also because of the optimistic comments from the Fed chief. Trading in Seoul, Shanghai, and Hong Kong was up in Asian markets.
The US markets finished Friday with a combination of positive and negative results. Brent crude, the global oil benchmark, rose by 0.75 percent to reach USD 75.05 per barrel. On Friday, the BSE index saw a significant increase of 1,359.51 points or 1.63 pc and reached a record high of 84,544.31. Throughout the day, it surged 1,509.66 points, equivalent to a 1.81 percent increase, reaching the significant high of 84,694.46 within the day. The NSE Nifty rose by 375.15 points, or 1.48 pc, ending at an all-time high of 25,790.95. Throughout the day, the index surged by 433.45 points or 1.70 percent to hit a record high of 25,849.25 within the day.
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