Mumbai: Sensex, Nifty hit new highs again as foreign portfolio investors (FPIs) dollar inflows in Indian stock markets eased on confidence that India would see a faster pace of economic growth under Prime Minister Narendra Modi. And global experts say that India will give a new direction to the world, wealth is increasing. Sir has started doing this. After taking a short break yesterday, Sensex, Nifty based historical gains were extended at the weekly close in derivatives today. The biggest positive factor for the very good progress of monsoon is that inflation-prices are expected to come under control in the coming days, as well as economic growth in the country is expected due to strong growth in the rural, agricultural sector. Corporate activity and fund re-rating expectations in stocks.

The Sensex created a new history by moving towards 66000 at 65832.98 and finally lost 339.60 points to close at 65785.64. Whereas the spot Nifty created a new history of 19512.20 by crossing the 19500 level for the first time and finally closed at a new historical high of 19497.30 with a gain of 98.80 points. Of course, the Indian rupee depreciated by 29 paise to 82.51 against the US dollar.

Oil-gas stocks rose

Funds today resumed aggressive buying in oil-gas stocks, led by Reliance Industries. Reliance gained by Rs 53.55 to Rs 2638.35, HPCL by Rs 11.60 to Rs 302.35, IOC by Rs 3.08 to Rs 98.60, GAIL by Rs 3.45 to Rs 110.85, BPCL by Rs 3.08 to Rs 110.85. ONGC rose by Rs 6.85 to Rs 393.10, ONGC by Rs 2.85 to Rs 165.55. The BSE Oil-Gas index closed at 19069.34, up 374.32 points.

Auto shares gain on progress of monsoon

Funds continued buying in auto stocks on the back of 10 per cent growth in vehicle sales by automobile in June on a consolidated basis and good progress of monsoon. Mahindra & Mahindra rose by Rs 73.35 to Rs 1548.70, Apollo Tires by Rs 12.05 to Rs 411.15, Tata Motors by Rs 12.45 to Rs 600.80, Cummins India by Rs 39.25 to Rs 1915. Tube Investment rose by Rs 57.30 to Rs 3215. While Maruti Suzuki profit-booked by Rs 139.80 to Rs 9854.70, Eicher Motors declined by Rs 87.05 to Rs 3222.90. The BSE Auto index closed at 35,554.01, up 419.87 points.

Investor wealth stands at Rs 301.70 lakh crore

As a result of aggressive buying by funds, investors in shares, investor wealth i.e. total market capitalization of BSE listed created a new history and crossed Rs 300 lakh crore mark and eventually increased by Rs 1.80 lakh crore and stood at Rs 301.70 lakh crore. Reached a new height of Rs lakh crore.

FPI made cash purchases of Rs 2641 crore

Foreign portfolio investors-FPIs, FIIs made net purchases of shares worth Rs 2641.05 crore in cash today-Thursday. Against the total purchase of Rs 12,337.96 crore, there was a sale of Rs 9696.91 crore. While DII-domestic institutional investors net sold shares worth Rs 2351.66 crore in cash today. The sale was Rs 10,598.80 crore against the total purchase of Rs 8247.14 crore.

Rahul Dev

Cricket Jounralist at Newsdesk

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