The stock indices scaled new peaks on Thursday as FII buying continued unabated in benchmark index-based stocks on bourses.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) closed at 22214.37 up by 119.07 points or 0.54 per cent.
The rally was led by consumer durables at 1.46 per cent followed by oil and gas (1.28 per cent), realty (1.06 per cent), power , banks, capital goods, FMCG, automobiles and Tech stocks. However, healthcare , information technology and metal stocks were down.
On the National Stock Exchange (NSE), the 50-share Nifty closed at 6641.75 with a gain of 40.35.
“The continued upward movement of the market is driven by FII inflows,” said Sudip Bandyopadhyay, Managing Director, Destimoney Securities.
“The euphoria may continue for some more time. But we will see correction in the near future, said Mr. Bandyopadhyay, adding, “some amount of consolidation around Nifty level of 6500 will be good for the market.”
Rupee sheds 17 paise
The rupee on Thursday dropped 17 paise to close at 60.31 against the dollar compared to its previous close of 60.15 . Traders said that nationalised banks were buying dollars on behalf of the Reserve Bank of India.
However, the rupee’s fall was restricted to a major extent by sustained fund inflows into stock markets. At the interbank foreign exchange market, the rupee commenced lower at 60.21 a dollar against its last close of 60.14.
It fell to a low of 60.36 before concluding at 60.31.