Mumbai, July 22:
The Sensex and the Nifty surged nearly 0.8 per cent due to sustained foreign capital inflows and encouraging first quarter earnings posted by blue-chip companies coupled with a firm trend in other Asian markets.
According to an India Infoline Research report: "The market is managing to stay afloat even though build-up on the long side remains elusive. Either traders are looking to short the market at higher levels or they don’t expect the market to breach previous highs immediately.''
Brokers said sustained foreign capital inflows and persistent buying by retail investors, driven by encouraging first quarter earnings posted by blue-chip companies so far and positive economic factors, including progress in monsoon, bolstered the trading sentiment.
Besides, a firm trend in other Asian markets following signs of easing geopolitical tensions in Ukraine boosted the investor sentiment, they said.
At 11.25 a.m., the 30-share BSE index Sensex surged 215.30 points to trade at 25,930.47 and the 50-share NSE index Nifty jumped 59.80 points to trade at 7,744.
All BSE sectoral indices were trading significantly in the green. Among them, oil & gas, metal, realty and consumer durables gained the most by 1.63 per cent, 1.42 per cent, 1.22 per cent and 0.92 per cent, respectively.
Bharti Airtel, RIL, Hindalco, Coal India and SSLT were the major Sensex gainers, while HUL was the only loser.
Asian stocks rose, with gains in Tokyo and Hong Kong propelling the regional index towards a six-year high.
The MSCI Asia Pacific Index added 0.6 percent to 147.7 by 12:08 p.m. in Tokyo, heading for the highest close since June 2008. Japan's Nikkei 225 jumped 149 points or 0.98 per cent to 15,364 and Hong Kong's Hang Seng surged 320.85 points or 1.37 per cent to 23,707.99.
The Sensex and the Nifty surged nearly 0.8 per cent due to sustained foreign capital inflows and encouraging first quarter earnings posted by blue-chip companies coupled with a firm trend in other Asian markets.
According to an India Infoline Research report: "The market is managing to stay afloat even though build-up on the long side remains elusive. Either traders are looking to short the market at higher levels or they don’t expect the market to breach previous highs immediately.''
Brokers said sustained foreign capital inflows and persistent buying by retail investors, driven by encouraging first quarter earnings posted by blue-chip companies so far and positive economic factors, including progress in monsoon, bolstered the trading sentiment.
Besides, a firm trend in other Asian markets following signs of easing geopolitical tensions in Ukraine boosted the investor sentiment, they said.
At 11.25 a.m., the 30-share BSE index Sensex surged 215.30 points to trade at 25,930.47 and the 50-share NSE index Nifty jumped 59.80 points to trade at 7,744.
All BSE sectoral indices were trading significantly in the green. Among them, oil & gas, metal, realty and consumer durables gained the most by 1.63 per cent, 1.42 per cent, 1.22 per cent and 0.92 per cent, respectively.
Bharti Airtel, RIL, Hindalco, Coal India and SSLT were the major Sensex gainers, while HUL was the only loser.
Asian stocks rose, with gains in Tokyo and Hong Kong propelling the regional index towards a six-year high.
The MSCI Asia Pacific Index added 0.6 percent to 147.7 by 12:08 p.m. in Tokyo, heading for the highest close since June 2008. Japan's Nikkei 225 jumped 149 points or 0.98 per cent to 15,364 and Hong Kong's Hang Seng surged 320.85 points or 1.37 per cent to 23,707.99.
No comments:
Post a Comment