Stocks at new closing highs on fund inflows, global leads

Stocks at new closing highs on fund inflows, global leads
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Mumbai: The benchmark BSE Sensex on Tuesday surged to close at a new life high of 34,443.19 on gains in IT, FMCG, oil and gas and energy stocks amid positive leads from global markets, extending its record-breaking run for a third day. Also, Nifty settled at fresh high of 10,637.

But caution prevailed as crude prices surged to the highest level since 2015. Opening higher, the 30-share Sensex quickly rallied to an all-time intra-day high of 34,488.03 as Coal India, ITC and Tata Motors posted smart gains.

Profit booking in some pharma, capital goods and telecom stocks at record levels, however, pulled the index to a low of 34,343.41 during the day trade.

The Sensex finally settled up 90.40 points, or 0.26 per cent at 34,443.19, which is still all time closing high. It breached its previous record closing of 34,352.79 points hit yesterday.

The index has risen by 559.41 points in the previous three straight sessions. The broader 50-share NSE Nifty also maintained its bull run and touched a new peak of 10,659.15 (intra-day). It settled higher by 13.40 points, or 0.13 per cent, at a new peak of 10,637.00, beating its previous record closing of 10,623.60, recorded in Monday’s trade.

It also broke the previous intra-day record of 10,631.20 hit in yesterday’s session. Foreign portfolio investors (FPIs) have been supporting the ongoing rally by pumping in sizeable capital.

They purchased shares worth Rs 692.83 crore while Domestic institutional investors (DIIs) sold shares to the tune of Rs 206.30 crore on Monday, as per provisional data from the stock exchanges.

PTI