Mumbai, India (BBN) – The NSE index rose as much as 0.51 per cent to a record high of 9,220.65, surpassing its previous peak in March, while the rupee hit its highest in nearly 1-1/2 years on strong foreign buying in domestic markets.
Bonds also rallied, sending the benchmark 10-year bond yield down 7 basis points to 6.62 per cent, reports The Hindu Business Line.
The NSE’s record high surpassed its previous milestone of 9,218.40 points hit on March 17.
The index was trading up by 30.95 points or 0.34 per cent at 9,204.70 at 11.20 am local time.
Similarly, the 50-share BSE index Sensex was trading higher by 166.67 points or 0.56 per cent at 29,787.17.
Among BSE sectoral indices, capital goods index was the star-performer and was up 2.2 per cent, consumer durables 1.01 per cent, oil & gas 0.98 per cent and infrastructure 0.67 per cent.
On the other hand, TECk index was down 0.93 per cent, IT 0.87 per cent and realty 0.06 per cent.
Top five Sensex gainers were Reliance (+3.9 per cent), L&T (+3.22 per cent), GAIL (+2.54 per cent), HDFC (+1.77 per cent) and Tata Steel (+1.13 per cent), while the major losers were Bharti Airtel (-2.99 per cent), Wipro (-1.75 per cent), Infosys (-1.3 per cent), Bajaj Auto (-1.05 per cent) and TCS (-0.58 per cent).
The rupee strengthened to as much as 64.7650 per dollar, its strongest since October 2015, from its previous close of 64.8550.
Foreign investors bought $8.85 billion in Indian shares and debt last month, as prospects of additional reforms and hopes for an improving economy bolstered sentiment towards the country.
BBN/SK/AD