Sensex and Nifty surge to all-time highs again due to buying from FIIs, hopes of US-China trade pact
Yes Bank was the top gainer on both the indices.
Indian markets on Wednesday surged again to an all-time high, because of purchases by foreign institutional investors and rising expectations that the United States and China will soon reach a trade deal, Mint reported.
The BSE Sensex rose 199.31 points to close at 41,020.61. The National Stock Exchange Nifty 50 surged 63 points to finish at 12,100.70. “The underlying [market] sentiment remains positive and we expect 12,200 to be conquered in the near term,” said Sahaj Agarwal, the head of derivatives at Kotak Securities. The markets had earlier hit an all-time high on Monday.
The top gainers on the Sensex were Yes Bank, State Bank of India, Maruti Suzuki, Sun Pharmaceuticals and Hindustan Unilever. The stocks that rose the most on the Nifty 50 were Yes Bank, UltraTech Cement, State Bank of India, Maruti Suzuki and Hindalco.
Only six stocks declined on the Sensex – Larsen & Toubro, ICICI Bank, ITC, Tata Steel, National Thermal Power Corporation and Axis Bank. On the Nifty 50, the biggest losers were Bharti Infratel, Cipla, Larsen & Toubro, ICICI Bank and ITC.
The Indian rupee was trading 13 paise higher at 71.35 against the United States dollar at 4.54 pm.
