Sensex, Nifty close at new lifetime highs | Sensex, Nifty at new record levels; Reliance Industries, Infosys up

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Sensex, Nifty at new record levels; Reliance Industries, Infosys up

Mumbai: The bullish trend in the stock market continued for the third consecutive trading session on Monday. The BSE Sensex closed at an all-time high with a gain of 167 points. Stocks in the index, Reliance Industries and Infosys, supported the gains on a positive global trend and continued foreign inflows.

The 30-share BSE Sensex ended 166.96 points, or 0.29 per cent, higher at 58,296.91. During the trading, it had gone up to a one-time record 58,515.85 points. HCL Tech’s stock was the gainer with the gain of over 2 per cent in the Sensex shares. Apart from this, Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and Mahindra & Mahindra were the main gainers. On the other hand, the falling stocks include IndusInd Bank Kotak Bank, Power Grid, Sun Pharma, Asian Paints.

Narendra Solanki, Head of Equity Research (Fundamentals), Anand Rathi Shares & Brokers said, “The positive trend in other Asian markets also affected the domestic market. The reason for this is the reduction in job creation in the US in the month of August, the possibility of tightening monetary policy by the Federal Reserve has dimmed. Central bank chairman Jerome Powell had said that a reduction in the Federal Reserve’s bond purchase program requires that a large number of people get jobs.

“The market remained positive during the afternoon trade. This was due to continued foreign inflows amid a firm global trend and a pick-up in domestic economic activity encouraged traders.” Among other Asian markets, Shanghai, Seoul, Tokyo and Hong Kong closed with significant gains.

Major markets in Europe also saw a positive trend in afternoon trading. Meanwhile, international oil benchmark Brent crude gained 0.80 per cent to end at $72.03 a barrel. According to the data available in the stock market, foreign institutional investors were net buyers in the capital market on weekend Friday. He bought shares worth Rs 768.58 crore.

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