MUMBAI: The sensex on Monday rallied to a new life-high within striking distance of the 85k level despite muted foreign fund interest as domestic investors continued to pour money into the market. This was the third consecutive session of gains for the index, which have come mainly on the back of the Fed’s decision to cut interest rates in the US for the first time in over four years.
During the day’s session, the sensex opened marginally higher at 84,651 points, rallied to an intraday high of 84,981, and closed at 84,929 – up 384 points on the day.On the NSE, Nifty rallied close to the 26K mark – also a new record – and closed at 25,939, up 148 points.
According to Prashanth Tapse, senior VP (research), Mehta Equities, investors extended their buying support for the third straight session as benchmark indices hit highs amid gains in telecom, banking, realty and oil & gas shares. “While the undertone remains bullish, intraday volatility could intensify ahead of the monthly expiry on Thursday.”
During the day’s session, the sensex opened marginally higher at 84,651 points, rallied to an intraday high of 84,981, and closed at 84,929 – up 384 points on the day.On the NSE, Nifty rallied close to the 26K mark – also a new record – and closed at 25,939, up 148 points.
According to Prashanth Tapse, senior VP (research), Mehta Equities, investors extended their buying support for the third straight session as benchmark indices hit highs amid gains in telecom, banking, realty and oil & gas shares. “While the undertone remains bullish, intraday volatility could intensify ahead of the monthly expiry on Thursday.”
