Sensex off new life-time high; still up 52 points

Mumbai, Jan 21:   

The S&P BSE Sensex trimmed its initial gains but was trading still up by over 52 points at 28,837, while the broader CNX Nifty was maintaining the 8,700-level in late morning deals on bouts of buying in key blue-chips amid higher Asian cues. 

Bullish sentiment prevailed on the back of overall macro outlook and optimism over the forthcoming budget.

At 11.20 a.m., the 30-share BSE index Sensex was trading higher by 52.41 points or 0.18 per cent at 28,837.08 and the 50-share NSE index Nifty was trading up by 4.85 points or 0.06 per cent at 8,700.45. 

Mumbai, Jan 21:   

The S&P BSE Sensex trimmed its initial gains but was trading still up by over 52 points at 28,837, while the broader CNX Nifty was maintaining the 8,700-level in late morning deals on bouts of buying in key blue-chips amid higher Asian cues. 

Bullish sentiment prevailed on the back of overall macro outlook and optimism over the forthcoming budget.

At 11.20 a.m., the 30-share BSE index Sensex was trading higher by 52.41 points or 0.18 per cent at 28,837.08 and the 50-share NSE index Nifty was trading up by 4.85 points or 0.06 per cent at 8,700.45. 

Among BSE sectoral indices, infrastructure index was up 0.75 per cent, followed by capital goods 0.59 per cent, banking 0.51 per cent and PSU 0.37 per cent. On the other hand, metal index fell the most by 1.43 per cent, followed by realty 0.69 per cent, FMCG 0.57 per cent and auto 0.44 per cent. 

Major Sensex gainers were Bharti Airtel 3.13%, SBIN 2.59%, HUL 2.26%, HDFC 2.15% and Maruti 1.38%, while the top five losers were SSLT 2.53%, Hindalco 1.97%, Tata Motors 1.85%, Cipla 1.69% and ITC 1.43%. 

The Sensex resumed higher at 28,843.85 and rallied to a life-time high of 28,958.10. The CNX 50-share Nifty also touched a new peak of 8,738.60. 

A report by SMC Investments and Advisors said: "Asian stocks were broadly higher early today, as traders looked ahead to the Bank of Japan's announcement of its monetary decision, after a two-day policy meeting. US stock benchmarks closed higher Tuesday after a seesaw session, as investors looked past the continued drop in oil prices to focus on a meeting of the European Central Bank later this week." 

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs. 1,275.59 crore yesterday as per provisional data. 

Global markets

 

Asian shares held firm and the euro stayed under pressure on Wednesday as investors counted on the European Central Bank to unveil a stimulus drive, while the yen was subdued ahead of the Bank of Japan’s policy announcement later in the Asian day.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8 per cent to hit its highest level in six weeks. 

Japan’s Nikkei bucked the trend, slipped 0.5 per cent from a two-week closing high hit on Tuesday after heavy gains the previous two sessions.