Markets scale new peaks

Mumbai, July 27 

BSE benchmark Sensex finished above the 37,000-mark for the first time, while the NSE Nifty too breached the historic 11,200-level on Friday on widespread buying led by consumption and capital goods stocks.

The Sensex vaulted over 352 points to wrap up a stellar week —during which it finished at fresh lifetime highs in each of the five trading sessions.

Barring the BSE IT index, all other sectoral indices ended in the green.

ITC was the top gainer in the Sensex pack, surging 5.24%, after it posted a 10% increase in standalone net profit for the June quarter. ITC went past FMCG major Hindustan Unilever to become the country’s fourth most-valued firm in terms of market valuation.

Better-than-expected quarterly earnings by select index heavyweights, easing of US-EU trade tensions and firm foreign capital inflows ensured that investor sentiment remains skewed towards equities, brokers said.

Opening on a firm footing, the 30-share Sensex hit a new intra-day peak of 37,368.62.

It finally settled at 37,336.85, up 352.21 points — breaching its previous closing record of 36,984.64 reached yesterday.

It has taken the Sensex six months (January 23-July 27) to advance to the 37,000-level from 36,000.

Meanwhile, the NSE Nifty touched a new intra-day high of 11,283.40, before closing at a record 11,278.35 — showing a gain of 111.05 points, or 0.99 per cent.

It bettered its previous record close of 11,167.30 reached in Thursday’s trade.

For the week, the Sensex recorded a significant rise of 840.48 points, or 2.30% while the Nifty gained 268.15 points, or 2.44%. — PTI

Record run continues

• Better-than-expected quarterly earnings, easing of US-EU trade tensions and firm foreign capital inflows ensured that investor sentiment remains skewed towards equities 
• Barring the IT index, all other sectoral indices ended in the green
• ITC was the top gainer, surging 5.24%, after it posted a 10% increase in profit for the June quarter