Sensex closes above 67,000 for the first time on FPI buying – Times of India

Mumbai: Another day, another height. A strong start to the earnings season, a rally in the US market and a good monsoon coupled with sustained foreign fund inflows helped the Sensex close above the 67,000-mark for the first time. It took only three sessions for the index to jump from 66k to 67k – its second-fastest 1,000-point rally.
On Wednesday, the index closed at 67,097, up over 300 points. The Nifty also closed higher at 19,833 points on the NSE. This was the fifth consecutive session for both the major indices – Sensex and Nifty – hitting new life highs.
For the past few sessions, the market has been hitting record highs on a daily basis. “We expect this momentum to continue in the near future given the uptick in domestic cues and waning global concerns. MarketsOn will respond to the results of weekly options expiration and index heavyweights on Thursday Infosys And their,” Said Siddhartha Khemka Motilal Oswal Financial Services.
The day’s gain in Sensex came on the back of buying in RIL. ITC, HDFC Bank and Bajaj Finance. On the other hand, there is a selloff in stocks like TCS And Bharti Airtel partially limited the gains.
Foreign funds were net buyers to the tune of Rs 1,165 crore, while domestic funds were net sellers to the tune of Rs 2,135 crore, BSE data showed. In the month so far, foreign portfolio investors have bought stocks worth about Rs 38,000 crore, according to CDSL and BSE data. The day’s gain added about Rs 1.4 lakh crore to investor wealth and the market capitalization of BSE now stands at Rs 303.9 lakh crore.
Market players said late on Wednesday night that with the US market showing good progress in the mid-session, the domestic market is also expected to remain stable.
The rupee depreciated 4 paise to close at 82.1 against the dollar on Wednesday, dragged by gains in the American currency and firming crude oil prices. Traders said sustained foreign fund inflows boosted investor sentiment and limited the depreciation bias.