Sensex, Nifty Hit New Highs; FMCG, Metal Stocks Soar

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Mumbai : The BSE Sensex, after opening weak, scaled a new peak of 31,155.40 in late morning trade today on sustained buying by domestic institutional investors and retailers.

The NSE Nifty too soared to an all-time high of 9,622.30 after touching a low of 9,547.70 in early trade.

The BSE 30-share Sensex resumed on a negative note and cracked below the 31,000-mark to touch a low of 30,869.90 briefly, but bounced back to quote 127.19 points, or 0.40 per cent higher at fresh lifetime high of 31,155.40, surpassing its previous high of 31,074.07, recorded on May 26.

The index had gained 726.57 points in the previous two sessions.

Similarly, the broader 50-issue NSE Nifty also hit yet another record high of 9,622.30 by gaining 27.20 points, or 0.28 per cent. It breached previous record of 9,604.90, registered on May 26.

Brokers said apart from sustained buying by domestic institutions as well as retail investors, a firming trend at other Asian bourses as investors brushed off Pyongyang’s missile launch, helped key indices to scale lifetime highs.

Domestic institutional investors (DIIs) have been supporting the ongoing rally by pumping sizeable funds into markets. DIIs bought shares worth Rs 1,008.56 crore, while Foreign portfolio investors (FPIs) sold shares worth Rs 274.14 crore on Friday, as per provisional data from the stock exchanges.

Among the sectoral index, FMCG rose the most by surging 1 per cent, followed by metal index 0.10 per cent.

ITC Ltd was up 2,.07 per cent, Hind Unilever rose 1.53 per cent, HDFC Ltd 1.46 per cent, HDFC Bank 0.66 per cent and RIL 0.54 per cent.

In the Asian region, Hong Kong’s Hang Seng rose 0.09 per cent while Japan’s Nikkei up 0.16 per cent in their early deals. Shanghai Composite Index too was up 0.07 per cent.

The US Dow Jones Industrial Average ended 0.01 per cent lower on Friday.