Stock markets: Benchmark equity indices Sensex and Nifty hit their all-time high levels in early trade on Monday amid fresh foreign fund inflows and buying in IT counters. The 30-share BSE Sensex climbed 128.6 points to hit its lifetime intra-day peak of 66,189.50 in early trade. The NSE Nifty went up by 47.65 points to reach its all-time intra-day high of 19,612.15.
From the Sensex pack, Wipro, Tech Mahindra, Power Grid, Infosys, Hindustan Unilever, HCL Technologies, Asian Paints and UltraTech Cement were the major gainers. ICICI Bank, Bharti Airtel, HDFC Bank, Larsen & Toubro and Titan were among the laggards.
Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth Rs 2,636.43 crore, according to exchange data.
“In July, FPIs have invested Rs 30,660 crore in India inclusive of bulk deals and investment through the primary market. This reflects the increasing FPI confidence in the Indian economy and markets,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
In Asian markets, Seoul and Shanghai were trading lower while Hong Kong quoted in the green. The US markets ended on a mixed note on Friday. Global oil benchmark Brent crude dipped 0.86 per cent to USD 79.18 a barrel.
The BSE benchmark had jumped 502.01 points or 0.77 per cent to settle at an all-time high of 66,060.90 on Friday. The Nifty went up by 150.75 points or 0.78 per cent to end at a record high of 19,564.50.
ALSO READ: Markets climb in early trade aided by firm global trends; Rupee rises against dollar
Rupee rises against dollar
The rupee gained 6 paise to 82.11 against the US dollar in early trade on Monday supported by steady foreign fund inflows. However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 82.14, then touched a high of 82.11 against the American currency, registering a rise of 6 paise over its last close.
On Friday, the rupee had settled at 82.17 against the dollar. Softness in the US dollar and sustained FII inflows supported the rupee, forex traders said, adding that the strength in crude oil prices remains a concern for the local unit, as a sharp surge in prices could limit its gains. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05 per cent to 99.96.
(With PTI inputs)
Latest Business News