NEW DELHI: Equity indices opened higher on Friday with the benchmark BSE sensex breaching 47,000-mark for the first time ever. Sensex touched an intra-day high of 47,026 in early trade; while the broader NSE Nifty traded above 13,750-levels.
However, both the indices soon gave up their gains and turned into red.
Sensex, Nifty are hitting fresh peaks on a regular basis backed by FPI (foreign portflio investors) buying. In dollar terms, the year-to-date inflow is at $21 billion, official data show.
In terms of annual flows, the second highest figure of Rs 1.3 lakh crore was recorded in 2012. Till date this year, among the emerging markets in Asia, India has recorded the biggest foreign fund flow, according to Bloomberg data
Top gainers in the sensex pack included HCL Tech, Infosys, Nestle India, Tech Mahindra, TCS and Bajaj Auto with their stocks rising as much as 2.50 per cent.
On the NSE platform, Nifty IT outperformed by trading as much as 1.39 per cent higher.
The 30-share BSE index had settled 224 points or 0.48 per cent up at 46,890; while Nifty rose 58 points or 0.42 per cent to settle at 13,741.
Asian shares on Friday slipped from the record they hit a day earlier, but the prospect of a major US coronavirus relief package left some investors still in the mood to pick up stocks and other risk-exposed assets.
Global equities remained swathed in optimism that a deal will be reached over a fresh US economic stimulus package.
Many investors saw the passing of new measures to support the economy as imminent after data showed the number of Americans filing first-time claims for jobless benefits unexpectedly rose last week.
“We are in an environment now where bad news is good news because it means more stimulus,” Sharon Zollner, chief economist at ANZ Research, told news agency Reuters.
(With inputs from agencies)
Source From : Times Of India