Indian benchmark indices continued their stellar performance from yesterday and hit their respective new lifetime record levels today. BSE Sensex, the barometer index, rose 260.48 points or 0.86% to 30,582.60 points after reaching a new all-time high of 30,591.55 points, while the broader NSE Nifty50 crossed the 9,500 mark for the first time ever, rising 66.85 points or 0.71% to its new life-time high of 9,517.20 points before closing at 9,512.25 points.
Both the Sensex and the Nifty hit record high levels as sentiment got a boost following news that Employees’ Provident Fund Organization (EPFO) will invest at least Rs 18000 crore in stocks in the current financial year, i.e. FY 2018. Also, investors remained bullish about the prospects of a good monsoon after IMD said rains are expected to arrive on the southern Kerala coast on May 30, two days ahead of the schedule. Further, robust foreign fund inflows, macro data like inflation and industrial production added to the growing sentiment. The government had released inflation and industrial production data, post market hours on Friday. The impressive macroeconomic data has raised hopes of a rate cut by the central bank in its next bi-monthly review.
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A total of 19 scrips 0n the 30-share Sensex ended higher whereas 10 scrips fell while 1 remained unchanged. On the 51-share Nifty, 37 scrips advanced while 14 scrips declined.
Major gainers on the Sensex were Hero MotoCorp up 3.09% at Rs 3,625.95; Bharti Airtel up 2.98% at Rs 3,74.70; Tata Consultancy Services up 2.66% at Rs 2,427.25; ITC up 2.20% at Rs 283.45; State Bank of India up 2.18% at Rs 307.00 and Maruti Suzuki India Ltd up 2.05% at Rs 6,952.60.
Major losers were Mahindra & Mahindra down 1.02% to Rs 1,362.25; Oil and Natural Gas Corp down 0.96% at Rs 185.10; Coal India down 0.88% at Rs 275.20; Cipla down 0.33% at Rs 564.40; Adani Ports down 0.30% at Rs 354.20 and Gas Authority of India Limited down 0.30% at Rs 412.30.
The total turnover on BSE amounted to Rs 4985.91 crore, rising from Rs 3,871.81 crore registered during the previous trading session. Market breadth remained positive as 1,435 stocks advanced while 1,344 stocks declined and 181 remained unchanged.
The total market cap of BSE Sensex was Rs 51.0760 lakh crore. The Price to Earnings (PE) multiple of the Sensex stood at 23.01 while its Price to Book value (PB) multiple was at 2.94 and the Dividend Yield was at 1.33.