Sensex, Nifty-50 reach new highs on good GDP numbers
Foreign Investors Inject Optimism into Indian Markets with Rs 8,147.85 Crore Equity Buying, Amid Falling Crude Oil Prices and US Bond Yields
Mumbai: Sensex and Nifty-50 made new all time highs after a gap of two and a half months, on all round buying spurred by higher than expected second quarter GDP growth, manufacturing data and positive global cues.
The Sensex touched a new all time high of 67,564.33 and closed at 67,481.19 gaining 492.75 points or 0.74 per cent. The Nifty -50 closed at 20,267.90 gaining 0.67 per cent or 134.75 points after making a new all time high of 20,291.55.
Benchmark indices Sensex and Nifty-50 closed over 2.25 per cent higher for the week.
BSE's market capitalisation soared to a new all time high of over Rs 337.67 lakh crore. NSE’s market capitalisation also crossed the $4 trillion mark on Friday as it hit a new all time high of over $4.02 trillion (Rs 334.72 lakh crore).
Heavy foreign portfolio investor buying on Thursday of equities worth Rs 8,147.85 crore also boosted market sentiments. “With crude oil price and US bond yields falling, the headwinds seem to be clearing for the Indian market. Better than expected GDP numbers have also boosted the sentiment,” said an analyst.