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Sensex99000 100%

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Investors upbeat, equities close at new highs

Author: IANS/Monday, January 29, 2018/Categories: Economy

Investors upbeat, equities close at new highs

Mumbai, Jan 29 - Key Indian equity indices on Monday provisionally closed at fresh highs as healthy buying in auto, IT and consumer durables stocks, coupled with positive global cues, kept investors' sentiment upbeat.

However, some gains were curbed as investors booked profits in oil and gas, and healthcare stocks.

The wider Nifty50 of the National Stock Exchange (NSE) touched a record high of 11,171.55 points during intra-day trade.

The NSE Nifty50 provisionally closed (at 3.30 p.m.) higher by 60.75 points or 0.55% at a new level of 11,130.40 points.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex) closed at a fresh high of 36,283.25 points -- up 232.81 points or 0.65% -- from its previous close.

The Sensex scaled a record intra-day level of 36,443.98 points.

However, the BSE market breadth turned bearish as 1,879 stocks declined against 968 advances.

According to market observers, the Economic Survey for 2017-18 tabled in Parliament during market hours -- which pegged the country's growth to be 7 to 7.5% in the next fiscal -- gave a boost to investors' risk-taking appetite.

"Markets closed at record highs after a government report predicted growth would accelerate in the coming fiscal year," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said.

On the last trading session on Thursday, the indices had closed in the red on the back of heavy selling pressure in auto, IT and consumer durables stocks.

The Nifty50 had fallen by 16.35 points or 0.15% to close at 11,069.65 points, while the Sensex closed at 36,050.44 points -- down 111.20 points or 0.31%.

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