Sensex surges 300 points, closes above 35k-mark

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Sensex surges 300 points, closes above 35k-mark for first time

Benchmark Sensex soared over 310 points today to close above the 35,000-mark for the first time ever, while the broader Nifty too ended at a fresh life-time high on unabated buying by participants.

The 30-share Sensex jumped 310.77 points, or 0.89%, to end at a new peak of 35,081.82, breaking its previous record of 34,843.51 reached on January 15.Sensex

Intra-day, it climbed to 35,118.61, bettering its previous intra-day high of 34,963.69 reached on January 15. It took 17 sessions for the index to scale the 35,000 mark from 34,000 level reached on December 26.

The broader Nifty surged 88.10 points, or 0.82%, to close at a new peak of 10,788.55, breaking its previous record of 10,741.55 hit on January 15. It also touched an intra-day record of 10,803, surpassing its previous high of 10,782.65 hit on January 15.

Brokers said sentiment got a lift after the government today lowered the additional borrowing requirement for the current fiscal to ₹20,000 crore from ₹50,000 crore estimated earlier.

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

According to market observers, optimism around quarterly corporate earnings, along with a surge in banking, healthcare and IT stocks, lifted the equity indices to trade at fresh high levels.

Around 2.45 p.m., the wider Nifty 50 of the National Stock Exchange rose by 59.70 points or 0.56 per cent to trade at 10,760.15 points.
On the BSE, the Sensex traded at 35,023.65 points — up 252.60 points or 0.73 per cent — from its previous session’s close. However, the BSE market breadth was bearish as 1,509 stocks declined against 1,343 advances.
On Tuesday, the benchmark indices closed in the negative zone as sentiments were dampened by higher crude oil prices as well as the country’s widening trade deficit.
The Nifty 50 fell by 41.10 points, or 0.38 per cent to close at 10,700.45 points, while the Sensex closed at 34,771.05 points — down 72.46 points or 0.21 per cent.

-PTI, MUMBAI, JANUARY 17, 2018