Nifty hits record, crosses 11,000, Sensex tops 36,000
ETMarkets.com|
Updated: Jan 23, 2018, 10.09 AM IST
NEW DELHI: NSE barometer Nifty topped 11,000-mark for the first time ever on Tuesday while the BSE Sensex hit the psychological mark of 36,000, tracking sharp gains in Asia after the US government passed a temporary funding bill that ended shutdown in the world's largest economy.
At 9.20 am, the Nifty50 was trading higher 48.80 points, or 0.45 per cent, at 11,015. The BSE Sensex was ruling at 35,973.69, up 175.68 points, or 0.49 per cent. The 30-pack index hit a record all-time high of 36,024.07 in morning trade. Data suggests that the market rollovers till Monday stood at 22 per cent, which were largely in line with the average figures for the last three series.
Major Asian markets were trading up to 1 per cent higher after Bank of Japan kept policy rate unchanged in its two-day monetary policy meeting.
"We can see 11,100 level as a next important junction for the Nifty50. Of late, there has been no respect to any resistance level. This level is projected by taking 161 per cent price extension of the rally seen during 2008-10," Angel Broking said in a note.
Heavyweights Reliance Industries, Infosys and HDFC were the flag-bearers, pushing up the key indices. Axis Bank rose 2.06 per cent and Infosys 1.72 per cent. Reliance Industries, ONGC, Coal India and Tata Steel all added up to 1.3 per cent.
In addition to global cues, there was optimism in the market after Prime Minister Narendra Modi, in a recent interview to Times Now, hinted at no populist measures.
"We view these statements as significant in the context of the upcoming Budget on February 1. They suggest that fears of outright populism - spurred by the fact that this is the government's last full budget ahead of the 2019 general election - may be exaggerated," Nomura India said in a note.
PNB Housing Finance, Symphony, Indiabulls Housing, Indiabulls Real Estate, NIIT, Crompton Greaves and Can Fin Homes are some of the companies which will announce their quarterly earnings on Tuesday.
At 9.20 am, the Nifty50 was trading higher 48.80 points, or 0.45 per cent, at 11,015. The BSE Sensex was ruling at 35,973.69, up 175.68 points, or 0.49 per cent. The 30-pack index hit a record all-time high of 36,024.07 in morning trade. Data suggests that the market rollovers till Monday stood at 22 per cent, which were largely in line with the average figures for the last three series.
Major Asian markets were trading up to 1 per cent higher after Bank of Japan kept policy rate unchanged in its two-day monetary policy meeting.
"We can see 11,100 level as a next important junction for the Nifty50. Of late, there has been no respect to any resistance level. This level is projected by taking 161 per cent price extension of the rally seen during 2008-10," Angel Broking said in a note.
Heavyweights Reliance Industries, Infosys and HDFC were the flag-bearers, pushing up the key indices. Axis Bank rose 2.06 per cent and Infosys 1.72 per cent. Reliance Industries, ONGC, Coal India and Tata Steel all added up to 1.3 per cent.
In addition to global cues, there was optimism in the market after Prime Minister Narendra Modi, in a recent interview to Times Now, hinted at no populist measures.
"We view these statements as significant in the context of the upcoming Budget on February 1. They suggest that fears of outright populism - spurred by the fact that this is the government's last full budget ahead of the 2019 general election - may be exaggerated," Nomura India said in a note.
PNB Housing Finance, Symphony, Indiabulls Housing, Indiabulls Real Estate, NIIT, Crompton Greaves and Can Fin Homes are some of the companies which will announce their quarterly earnings on Tuesday.
