Business Market 16 May 2017 Nifty breaches 9,500 ...

Nifty breaches 9,500-mark, Sensex at new high

PTI
Published May 16, 2017, 2:54 pm IST
Updated May 16, 2017, 2:54 pm IST
The 50-issue Nifty rallied 62 points, or 0.65 per cent, to trade at 9,507.40.
Traders during a session at BSE.
 Traders during a session at BSE.

Mumbai: Benchmark Nifty breached the key 9,500-level for the first time, while the Sensex surged to a fresh lifetime high of 30,567 in afternoon trade today on
early arrival of rains and persistent foreign inflows.

The 50-issue Nifty rallied 62 points, or 0.65 per cent, to trade at 9,507.40, surpassing its previous intra-day high of 9,550.65 touched on May 11.

 

The BSE Sensex soared 244.97 points, or 0.80 per cent, to scale yet another peak of 30,567.09, breaking its previous intra-day record of 30,366.43 reached on May 11.

Barring metal and infrastructure, all the sectoral indices were trading in the positive zone. Sentiment remained extremely bullish on the back of sustained foreign fund inflows and an improvement in liquidity with retail investors widening their bets, brokers said.

Besides, early arrival of rains and forecast of normal monsoon this year, which is expected to give a booster dose to the rural economy, accelerated buying, they added.

 

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