A person ties a balloon to the horns of a bull statue on the entrance of the Bombay Stock Exchange (BSE) whereas reacting to the Sensex surge, in Mumbai. File picture
| Photo Credit: Reuters
Benchmark indices ended at fresh lifetime highs on Tuesday, November 29, 2022 amid overseas fund inflows, a decline in crude oil costs and shopping for in index main Reliance Industries.
Rallying for the fifth day in a row, the 30-share BSE Sensex climbed 211.16 factors or 0.34 per cent to settle at 62,504.80, its fresh file closing excessive, on the time of publishing this report. During the day, it jumped 407.76 factors or 0.65 per cent to its lifetime intra-day peak of 62,701.40.
The broader NSE Nifty gained 50 factors or 0.27 per cent to finish at 18,562.75, its file closing excessive.
“Sentiment and flows currently are acting as a strong catalyst for the markets which touched an all-time high. We are seeing domestic as also foreign investors being net buyers of equity aiding the momentum,” mentioned Lakshmi Iyer, CEO- Investment Advisory, Kotak Investment Advisors Limited.
Among the Sensex pack, Reliance Industries jumped probably the most by 3.48 per cent, adopted by Nestle, Asian Paints, Bajaj Finserv, Wipro, ICICI Bank and IndusInd Bank.
Tata Steel, HDFC Bank, Bharti Airtel, HDFC and Mahindra & Mahindra have been among the many laggards.
“Despite unfavourable global cues, the domestic market reversed its early losses to trade at record highs. Following the decline in oil prices, oil & gas stocks led the rally in anticipation of margin gains, as ongoing protests in China fuelled demand concerns. Going ahead, global markets will depend on Powell’s speech on Wednesday, which is crucial in maintaining the momentum, as the market seems to have factored in a moderation in the pace of rate hike,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
In the broader market, the BSE smallcap gauge climbed 0.77 per cent and midcap jumped 0.72 per cent.
Among sectoral indices, oil & gasoline climbed 1.49 per cent, power (1.44 per cent), auto (0.64 per cent), shopper discretionary (0.59 per cent), industrials (0.46 per cent) and FMCG (0.29 per cent).
Commodities, telecommunication, utilities, shopper durables, energy and teck have been the laggards.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended decrease.
Equity exchanges in Europe have been buying and selling within the unfavorable territory within the afternoon commerce. Wall Street had ended principally decrease on Friday.
International oil benchmark Brent crude was buying and selling 3.11 per cent decrease at USD 81.03 per barrel.
Foreign Institutional Investors (FIIs) purchased shares price ₹935.88 crore on Monday, as per alternate information.