Stock markets: In early trade on Monday, the benchmark equity indices Sensex and Nifty reached their all-time high levels. This was driven by fresh foreign fund inflows and buying in IT counters. The BSE Sensex, a 30-share index, rose 128.6 points to reach its lifetime intra-day peak of 66,189.50. The NSE Nifty also increased by 47.65 points to attain its all-time intra-day high of 19,612.15.
Among the gainers in the Sensex pack were Wipro, Tech Mahindra, Power Grid, Infosys, Hindustan Unilever, HCL Technologies, Asian Paints, and UltraTech Cement. On the other hand, ICICI Bank, Bharti Airtel, HDFC Bank, Larsen & Toubro, and Titan were among the laggards.
According to exchange data, Foreign Institutional Investors (FIIs) were buyers on Friday, investing Rs 2,636.43 crore in equities.
“In July, FPIs have invested Rs 30,660 crore in India, including bulk deals and investment through the primary market. This reflects the increasing FPI confidence in the Indian economy and markets,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
In Asian markets, Seoul and Shanghai were trading lower, while Hong Kong quoted in the green. The US markets ended on a mixed note on Friday. The global oil benchmark, Brent crude, dipped 0.86% to USD 79.18 a barrel.
On Friday, the BSE benchmark surged 502.01 points or 0.77% to settle at an all-time high of 66,060.90. The Nifty also went up by 150.75 points or 0.78% to end at a record high of 19,564.50.
ALSO READ: Markets climb in early trade aided by firm global trends; Rupee rises against the dollar
Rupee rises against the dollar
The rupee gained 6 paise to 82.11 against the US dollar in early trade on Monday, supported by steady foreign fund inflows. However, the surge in crude oil prices limited sharp gains for the local unit, according to forex traders. At the interbank foreign exchange, the domestic unit opened at 82.14 and reached a high of 82.11 against the American currency, registering a rise of 6 paise over its last close.
On Friday, the rupee settled at 82.17 against the dollar. Forex traders stated that the softness in the US dollar and sustained FII inflows supported the rupee, but the strength in crude oil prices remains a concern as a sharp surge could limit its gains. The dollar index, which measures the strength of the greenback against a basket of six currencies, rose by 0.05% to 99.96.
(With PTI inputs)
Latest Business News
Denial of responsibility! SamacharCentrl is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
