News By/Courtesy: Ambuja Jain | 30 May 2019 10:41am IST

The benchmark Bombay Stock Exchange Sensex advanced over 100 points amid positive domestic and global cues and unabated foreign fund inflow. The 30-share index was trading 98.04 points, or 0.25 percent, higher at 39,781.33. Similarly, the broader NSE Nifty rose 24.75 points, or 0.21 percent, to 11,949.50.  On Monday, the previous session, the Bombay Stock Exchange gauge ended 248.57 points or 0.63 percent higher at 39,683.29 i.e. a new closing high for the index. Whereas, the broader Nifty increased 80.65 points or 0.68 percent to settle at 11,924.75 which is a fresh closing peak for the NSE barometer.

Top Sensex gainers are Yes Bank, Coal India, Vedanta, Bajaj Auto, Sun Pharma, PowerGrid, IndusInd Bank, Axis Bank, Tata Steel, L&T, Tata Motors, and Reliance Industries rising up to 3.75 percent. While Hero MotoCorp, HUL, HDFC, Bharti Airtel, Kotak Bank, SBI, HCL Tech, ITC, Bajaj Finance and ICICI Bank fell up to 1.02 percent. Since the BJP-led National Domestic Alliance (NDA) has won the election, the market mood has been euphoric. The Chief Investment Officer of Sanctum Wealth Management, Mr. Sunil Sharma said that ‘this past week’s events reinforce a positive view on markets in the longer term. As given a large amount of groundwork is already in place, we expect the next five years to surprise to the upside on earnings, once remaining PSU bank issues are resolved.’

Even traders said that ‘positive cues from global markets and sustained foreign fund inflow too has boosted the investor’s sentiments here.’  On Monday, the provisional data available with stock exchanges showed that the Foreign Institutional Investors bought equity worth Rs.1,215.36 crore, while Domestic Institutional Investors sold shares of Rs.327.86 crore. And on the currency front, the rupee depreciated 21 paise to 69.72 against the US dollar. 

Section Editor: Shreyashi Tiwari | 30 May 2019 10:46am IST

Tags : #Euphoric #Market #Stock #India #Sensex #Nifty #Rise

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