The domestic equity bourses shrugged off concerns regarding the low industrial output figure released on Wednesday, as the 30-share Sensex of the Bombay Stock Exchange (BSE) surged by 109.08 points or 0.70% to close the day at 15,614.44 points. The benchmark index in the intra-day trade touched a high of 15,650.14, which was just 218.71 points away from its all-time high of 15,868.85 points, mainly led by stocks belonging to auto, cement and banking counters amidst a mixed show posted by the Asian markets.
On the other hand, the broader S&P CNX Nifty of the National Stock Exchange (NSE) ended the day at 4,528.95 points with a gain of 0.71% or 32.1 points.
Reliance Industries (RIL) continued to surge ahead, touching its all-time high of Rs 2,034.40 before closing the day at Rs 2026.50 with a gain of Rs 13.55 or 0.67%. Interestingly, in the last two trading sessions, companies belonging to Ambani brothers had been hogging the limelight. Reliance Industries, Reliance Petroleum and IPCL of the Mukesh Ambani group and Reliance Capital, Reliance Energy and Reliance Natural Resources Ltd of the Anil Dhirubhai Ambani Group (ADAG) have struck their lifetime highs in past two trading sessions.
Manish Sonthalia, VP-Market Strategist & Portfolio Manager, Motilal Oswal Securities, said, ?The market is currently in an upbeat mood in anticipation the US Fed may cut interest rate. If that happens we may witness a sudden inflow of foreign funds as real growth lies in emerging markets. But if the market optimism fails, we could see a slight correction from here.?
According to the provisional figures provided by the stock exchanges (SEs), foreign institutional investors (FIIs) were net buyers to the tune of Rs 6.29 crore on Thursday.
BSE reported a healthy turnover figure of Rs 5,286.91 crore. At BSE the market breadth too remained robust with 1,576 stocks advancing when compared to 1,115 stocks that had declined. Among the Sensex pack, 21 stocks gained ground while 9 stocks declined.