On Wednesday the rally could continue with the SGX Nifty hinting at a positive start as it was trading over 55 points higher.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity benchmark indices rallied again on Tuesday and reached fresh all-time highs. The 50-stock NSE Nifty crossed 13,000 for the first time in history. Sensex and Nifty ended yesterday’s trade at their highest closing levels. On Wednesday the rally could continue with the SGX Nifty hinting at a positive start as it was trading over 55 points higher. Global cues are strong on Wednesday morning with stock markets in the United States closing with gains and Asian peers surging higher during the early hours of trade. Hang Seng, Nikkei 225, and TOPIX all gained over 1% each.
The recent rally in domestic markets is supported by heavy buying by Foreign Institutional Investors (FII). so far this month, FIIs have pumped in a record breaking Rs 55,474 crore into domestic securities. This week along FIIs have bought equities worth Rs 9,000 crore. FII buying is aided by the changes to MSCI indices that will take place at the end of this week as well as favorable outlook for India’s economic growth in the post pandemic world.
Highlights
S&P BSE Sensex was trading over 150 points higher during the pre-open session on Wednesday. Nifty 50 breached 13,100.
Foreign Institutional Investors pumped in Rs 4,563 crore into domestic securities on Tuesday as they continued to pump funds into Indian markets.
Nifty breached 13,100 in the pre-open session on Wednesday. Sensex too was seen gaining.
With equity markets now trading at their highest ever levels, some analysts suggest treading cautiously from here on. Although with the broader markets participating in the rally, corrections are being bought into, however, taking a stock specific approach is being advised. SGX Nifty was trading over 55 points higher on Wednesday morning hinting at a positive start for domestic markets. Global Cues too were positive with Wall Street closing at fresh highs and Asian peers mirroring the upmove. Hang Seng, Topix and Nikkei 225 were up over 1% each.
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State Bank of India (SBI) on Tuesday said it has raised Rs 2,500 crore from bonds to fund business growth. The committee of directors for capital raising at its meeting held on Tuesday accorded approval to allot 25,000 Basel-lll compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT 1 capital of the bank to the subscribers, it said in a regulatory filing.
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Domestic equity benchmarks once again shatters record and soared to set new all-time highs. S&P BSE Sensex closed at 44,523 points while the 50-stock NSE Nifty closed at 13,055, their highest ever closing levels. Among top Sensex gainers were Axis Bank, Mahindra & Mahindra, HDFC Bank, and ITC. Dragging the index were HDFC, Titan, Nestle India, and Bharti Airtel. Broader markets were seen inching higher along with the benchmarks. BSE Smallcap and BSE Midcap indices closed with gains but underperformed Sensex.
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