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Field day for markets as Nifty breaches 11,800-mark for first time ever, Sensex crosses 39,000

New Delhi, News Nation Bureau | Updated : 16 April 2019, 02:50 PM
Field day for markets as Nifty breaches 11,800-mark for first time ever, Sensex crosses 39,000
Field day for markets as Nifty breaches 11,800-mark for first time ever, Sensex crosses 39,000

The NSE Nifty 50 Index on Tuesday jumped 116 points to a record high of 11,808 while 30-share index rose 432 points to 39,337 led by gains in banking, metal, oil and gas, telecom and auto stocks, amid unabated foreign fund inflows and positive global cues. 

Top gainers include ICICI Bank, Tata Consultancy Services, HDFC Bank, Reliance Industries and Larsen and Toubro.

On the other hand, Bharti Airtel, Infosys, Tata Motors, Tata Steel and HUL were the only losers in the Sensex pack, shedding up to 0.65 per cent.

In the early session, the Sensex was trading 239.11 points or 0.61 per cent higher at 39,144.95, and the NSE Nifty was trading 63.35 points, or 0.54 per cent, up at 11,753.70.

In the previous session, the BSE index settled 138.73 points, or 0.36 per cent, higher at 38,905.84, while the broader Nifty rose 46.90 points, or 0.40 per cent, to close at 11,690.35.  

Indian markets have rallied over the past few weeks on the back of dovish global central banks and strong buying from foreign investors. Foreign portfolio investors (FPI) have pumped in a net sum of close to 12,000 crore in Indian equities so far this month. It comes on the back of a net sum of45,981 crore in March.

Meanwhile, the rupee depreciated marginally to 69.49 against the US dollar in early trade.

Brent crude futures, the global oil benchmark, was 0.25 per cent lower at USD 71 per barrel. The crude oil price remains a key risk for Indian markets as any substantial movement beyond $70 per barrel is not conducive for the Indian economy, he said. Brent crude prices are hovering near five-month high of around $71 a barrel.

Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were positive in early trade.

Indian markets would remain closed on Wednesday and Friday for Mahavir Jayanti and Good Friday.

First Published: Tuesday, April 16, 2019 02:42 PM
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