Sensex hits life-time high 30366, Nifty at 9451 on fund inflows

12 May, 2017, 01:29 | Author: Jacqueline Ellis

The Sensex closed up 2.81 points at 30250.98, while the Nifty ended higher by 15.10 points at 9422.40. TVS Motor Co ltd gained 1.03 per cent.

Hindalco gained over 4 per cent after its subsidiary Novelis announced 46 per cent jump in net income at $73 million during the fourth quarter ended March 2017.

The total turnover on BSE amounted to Rs 4,031.10 crore, higher than Rs 3,625.49 crore registered during the previous trading session. For Q4, the bank reported 12.5 percent rise in net profit at Rs 108 crore on a year-on-year basis, helped by write-back of excess provisions of income tax. State Bank of India and Bank of Baroda climbed 0.8 per cent and 1 per cent, respectively.

The BSE market breadth was bullish, with 1,619 advances and 1,151 declines.

European shares pulled back on Wednesday from 21-month highs hit after strong earnings while the dollar fell on concerns that US President Donald Trump's dismissal of his Federal Bureau of Investigation chief could make passage of his tax reform plans more hard.

On the NSE index, Zee Ltd and Hindalco were sectoral gainers while Airtel and GAIL were laggards.

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Earlier, the broader NSE index rose as much as 0.46 per cent to 9,450.65, while the benchmark BSE index gained as much 0.39 per cent to 30,366.43, hitting record highs for a second consecutive day.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at a new high of 30,248.17 points - up 314.92 points or 1.05 per cent from its previous close at 29,933.25 points.

The 50-share Nifty retook the 9,300-mark, scaled a high of 9,338.70 before ending up 28.75 points, or 0.31 per cent, at 9,314.05.

The Sensex touched a high of 30,008.35 points and a low of 29,953.83 points during the intra-day trade so far.

Earlier in the week, the head of the country's weather office, forecast a higher monsoon rainfall as concerns over the El Nino weather condition eased, raising prospects of higher farm and economic growth. Japan's Nikkei 225 is trading in green, up by 0.21 per cent, Hang Seng was up by 0.24 per cent while South Korea's Kospi was up by 0.78 per cent. Shanghai Composite Index too was up 0.18 per cent. The Dow Jones industrial average lost ground, while the Nasdaq closed at a record high.

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