Market update: Nifty ends above 8,000 for 1st time, Sensex at new peak
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Stocks markets continued their winning streak for the seventh straight session with the NSE Nifty breaching the 8,000-mark for the first time and the Sensex closing at new life-time high of 26,867.55 on Monday boosted by positive economic growth data for the April-June quarter.
The National Stock Exchange (NSE) Nifty barometer on Monday surged passed the 8,000-mark for the first time and soared to hit an all-time intra-day high of 8,035 and settled 73.35 points, or 0.92 per cent, higher at record close of 8,027.70, surpassing its earlier record high 7,954.35.
It also surpassed its previous intra-day record of 7,968.25 hit on August 25. It took 78 trading sessions from May 12 to September 1 to reach the 8,000-mark from 7,000 points.
The Bombay Stock Exchange (BSE) 30-share barometer Sensex spurted by 229.44 points, or 0.86 per cent, to close at new life-time high of 26,867.55, breaking its previous closing high of 26,638.11 reached on August 28.
During Monday's session, it touched a new high of 26,900.30, improving its previous intra-day record of 26,674.38 hit on August 28. The gauge had gained about 324 points in the previous six straight sessions.
Sentiments turned bullish as foreign capital inflows picked up after economic growth improved to two-and-half year high of 5.7 per cent in the April-June quarter, brokers said.
HeroMoto was the best gainer on Monday among the 30-share Sensex as it jumped 5.79 per cent to Rs 2,759.25.
Strong sales number in August posted by some auto makers, including Maruti Suzuki, was another positive factor. Maruti Suzuki's shares climbed 4.71 per cent to close at an all-time high of Rs 2,915.50.
Mixed global cues with a firming trend in other Asian markets and a lower opening of the European markets also influenced trading sentiments in the domestic market.
Other Sensex-related gainers were Larsen and Toubro, Hindalco, ONGC, GAIL, Reliance Industries, Cipla, Coal India, Sesa Sterlite, Tata Power, Tata Steel, Infosys and NTPC.
Sectorally, BSE Metal sector index rose (2.79 per cent), followed by Capital Goods (2.75 per cent), Realty (2.72 per cent) and Power (2.60 per cent). (Business Today)
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