Markets: BSE Sensex settles at 60,260; NSE Nifty closes at 17,944
Mumbai: With tailwinds showing a favorable climate for the markets in the coming festive season, equity benchmarks maintained their winning run on Wednesday, with the BSE index, Sensex, ending above the crucial 60,000 mark amid persistent foreign fund inflows.
The 30-share Sensex jumped 417.92 points or 0.70 percent to settle at 60,260.13. During the day, it climbed 481.04 points to 60,323.25.
The broader NSE Nifty went higher by 119 points, or 0.67 percent, to close at 17,944.25.
Bajaj Finserv, Bajaj Finance, Bharti Airtel, Tech Mahindra, HCL Technologies, NTPC, Wipro, and Hindustan Unilever were the biggest gainers on Sensex, but Mahindra & Mahindra, Maruti Suzuki, UltraTech Cement, and Power Grid were among the laggards.
Market experts attributed the indices crossing benchmarks to consistent participation by the foreign institutional investors (FIIs), the backbone of the current rally in the domestic market. This reversal in the FII trend is because of the resilience shown by the Indian economy even as inflation continues to plague the western markets.
Besides, declining commodity and oil prices also instilled confidence in foreign investors.
In Asia, Tokyo, Shanghai, and Hong Kong, markets settled higher, while Seoul ended lower.
Equities in Europe were trading lower during mid-session deals. The US markets ended mostly higher on Tuesday.
Meanwhile, the international oil benchmark Brent crude dipped 0.13 percent to USD 92.22 per barrel.
Foreign Institutional Investors (FIIs) remained net buyers in the Indian capital market on Tuesday, picking up shares worth Rs. 1,376.84 crores, according to exchange data.
(VP)
