Record-breaking streak persists for equity benchmarks; Nifty edges closer to 21,000 points
In the morning trade, the 30-share BSE Sensex surged by 303.25 points, reaching a fresh all-time high of 69,599.39, marking a 0.44 per cent increase
Mumbai, December 06: Equity markets' winning streak continues as both Sensex and Nifty mark their seventh successive climb, reaching fresh highs. Sensex soared by 303.25 points to an all-time high of 69,599.39, while Nifty hit a peak of 20,955.15.
The sustained surge is fueled by foreign institutional investors and a dip in crude oil prices. Analysts credit this to a steady flow of foreign funds, propelled by diminishing US bond yields. Domestically, investor optimism remains high due to robust macroeconomic data and anticipated political stability.
Anticipation mounts for the Reserve Bank's forthcoming bi-monthly monetary policy decision, expected to uphold the current interest rates. Key movers in the Sensex include ITC, Wipro, Tech Mahindra, and Nestle India, all showing significant gains. Conversely, ICICI Bank, NTPC, UltraTech Cement, and Tata Steel experienced marginal losses.
Foreign institutional investors exhibited strong buying activity, purchasing shares worth Rs 5,223.51 crore on Tuesday, as per exchange data. This cumulative momentum sustains the market's bullish trajectory, reinforcing positive sentiments and driving the indices to new milestones.