Nifty ends above 9900 for 1st time

Nifty ends above 9900 for 1st time

Most other Asian markets edged higher after the Dow Jones Industrial Average and the S&P 500 Index closed at record highs on Friday following soft US inflation and retail sales data that pushed back bets of Federal Reserve rate increases. The Sensex, in intra day-trade, also posted a new all-time high of 32,131.92.

Market observers opined that investors’ sentiments were uplifted by positive global cues and inflow of foreign funds.

In terms of the broader markets, the BSE mid-cap index inched up 0.07 per cent and the BSE small-cap index by 0.01 per cent. The market capitalisation of listed firms on the NSE stood at Rs. 1,29,32,869 crore.

The Nifty opened higher today at 9,908.15. “European indices like CAC 40 and FTSE 100 traded higher”, Jasani added.

After Indian key equity indices opened in green on Monday, I-T heavy-weights Wipro and Infosys topped the domestic market through the day.

Market heavyweight Reliance Industries crossed the Rs 5 lakh crore market capitalization for the first time ever before closing about 1 percent higher.

Sector-wise, the S&P BSE metal index rose by 116.43 points, the IT index by 95.55 points and the banking index by 89.81 points. Infosys Ltd rose 1.4 percent while Wipro Ltd gained 3.2 percent after the software service provider said on Friday that it would consider a buyback proposal.

On the other hand, ITC (3.40%), Coal India (1.34%), GAIL (India) (1.13%), Dr Reddy’S Laboratories (0.72%), Axis Bank (0.42%), and Maruti Suzuki India (0.41%) were the major losers in the Sensex.