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Last Updated Tuesday May 22 2018 07:02 PM IST

Sensex settles above record 35,000 for 1st time

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Sensex All sectoral indices, driven by IT, banking, PSU, capital goods and healthcare, surged with gains of up to 1.21 per cent.

Mumbai: The benchmark BSE Sensex closed at a record 35,000 plus for the first time after a surge in the late afternoon trade Wednesday as buying gathered momentum on easing fiscal deficit worries.

The 30-share index had crossed the 35,000-mark jumping to an all-day high of 35,118.61, and closed at 35,081.82.

It took 17 sessions for the index to reach the 35,000 mark from 34,000 level reached on December 26.

Strong gains in banking, IT, FMCG and capital goods stocks helped the index top the new milestone.

Sentiments got a boost after the government Wednesday lowered the additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore estimated earlier, brokers said.

All sectoral indices, driven by IT, banking, PSU, capital goods and healthcare, surged with gains of up to 1.21 per cent.

The NSE Nifty spurted closed at 10,788.55 jumping 88.10 points. Earlier in the day, the index surged up 61.15 points, or 0.57 per cent, to trade at 10,761.60.

Analysts said strong liquidity in the market following unabated buying by foreign funds inflows and encouraging Q3 earnings by some companies lifted the mood.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 693.17 crore while domestic institutional investors (DIIs) had sold equities worth a net Rs 246.38 crore Tuesday, as per provisional data.

The big gainers that helped the flagship Sensex to new peak were SBI, Axis Bank, Infosys, Adani Ports, Yes Bank, ICICI Bank, L&T, TCs, ITC Ltd, Dr Reddy's, Sun Pharma, Bajaj Auto, Power Grid, NTPC, HDFC Ltd, M&M and Tata Steel, surging up to 3.43 per cent.

Asian stocks were mixed, while European markets were down n their opening trade.

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