Comments
The BSE Sensex and the NSE Nifty soared to new highs on Thursday as the Narendra Modi Government once again displayed its commitment to reforms.
The markets also ignored the US Federal Open Market Committee’s expected announcement of the end of its multi-year asset purchases, widely known as Quantitative Easing.
The BSE Sensex surged 248 points to end at a new peak of 27,346.33, and the NSE Nifty closed at 8,169.2, up 78.75 points, or 0.97 per cent, as traders built fresh long positions on the day October derivative contracts expired on the NSE. The Nifty hit an all-time intra-day high of 8,181.55.
The sudden surge towards the closing hours also forced a lot of short position holders to square their contracts, thus helping the benchmarks rise further.
Reacting to the easing of FDI rules in realty, the stocks in this sector, including DLF, gained sharply and the realty index was the biggest gainer, by 3.44 per cent, on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.