Sensex, Nifty scale new heights after BJP’s win in State polls

Sensex and Nifty scaled new heights on Monday after BJP achieved favourable poll results in four States.

The BSE Sensex and the NSE Nifty soared to hit new all-time high of 21,483.74 and 6,415.25 points, respectively, on sustained fund inflows after the Bharatiya Janata Party’s spectacular performance in Assembly elections amid a firming overseas trend.

The 30-share index, which had gained 287.82 points in the previous two sessions, zoomed to hit an all-time high of 21,483.74 by surging 487.21 points, or 2.32 per cent.

All the sectoral indices, led by banking and capital goods, were trading in positive territory with gains up to 3.68 per cent.

The 50-share NSE Nifty also recorded its all-time high of 6,415.25, surpassing the previous closing high of 6,357.10 registered on January 8, 2008.

Brokers said frenzied buying by funds and retail investors after BJP’s good show in Assembly elections buoyed the trading sentiments.

Besides, a firming trend on other Asian bourses following Friday’s gains in the US market after jobs data, too generated buying by funds.

In the Asian region, Japan’s Nikkei rose 1.85 per cent, while Hong Kong’s Hang Seng rose 0.37 per cent in early trade on Monday.

The US Dow Jones Industrial Average closed 1.26 per cent higher on Friday.

Source:

Niticentral Website

Profit NDTV website

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