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Sensex crosses 41,000 for first time, Nifty hits record high: 10 updates on share market today

While Sensex rose over 200 points to hit its all-time high of 41,120, Nifty surged to its lifetime peak of 12,132

twitter-logo BusinessToday.In        Last Updated: November 26, 2019  | 13:24 IST
Sensex crosses 41,000 for first time, Nifty hits record high: 10 updates on market hitting all-time high today
On Monday, Sensex closed 529.82 points higher at 40,889.23-its all-time closing peak. The Nifty rose 159.35 points, or 1.34 per cent, at 12,073.75-just shy of its life-time closing high

Sensex and Nifty continued to rally for the second consecutive session today powered by a surge in US markets which hit record high in last trading session. While Sensex rose over 200 points to hit its all-time high of 41,120, Nifty surged to its lifetime peak of 12,132. On Monday, Sensex closed 529.82 points, or 1.31 per cent, higher at 40,889.23 -its all-time closing peak. The Nifty rose 159.35 points, or 1.34 per cent, at 12,073.75 -just shy of its life-time closing high.

Share Market LIVE: Sensex, Nifty trade flat; RCom stock rises over 4%

Here's a look at the 10 updates on Sensex hitting 41,000 for first time and Nifty climbing to record highs today.

  • YES Bank (1.57 per cent), Tata Steel (1.54 per cent), Sun Pharma (1.45 per cent), ICICI Bank (1.48 per cent), Infosys (1.10 per cent ) and RIL (0.76 per cent) were the top Sensex gainers.
  • Among Sensex losers, Bharti Airtel fell up to 1.73 per cent, Kotak Bank (0.40 per cent), Bajaj Auto (0.33 per cent), L&T (0.22 per cent) and Hero MotoCorp slipped 0.05 per cent.
  • Reliance Industries market cap rose to Rs 9.95 lakh crore after the stock surged 0.98% to hit its all-time high of Rs 1,576 compared to the previous close of Rs 1,560.70 on BSE.
  • Sustained buying from foreign investors over the last couple of weeks, easing global worries on the trade tariff front, new developments over divestment to curb fiscal deficit and expectations of cut in interest rate by the Reserve Bank of India have pushed the market to record highs, experts said.
  • A rally in global markets on optimism over US-China trade talks, prompted by Beijing's new guidelines for the protection of patents and copyrights have led the domestic market indices to touch new peaks. On Monday, S&P 500 rose 23.35 points, or 0.8%, to 3,133.64. The Dow Jones Industrial Average climbed 190.85, or 0.7%, to 28,066.47, and the Nasdaq composite jumped 112.60, or 1.3%, to 8,632.49. All three indexes set fresh records.
  • The rupee opened 5 paise higher against the US dollar at 71.68 today. It closed at 71.72 yesterday. At 12:30 pm, the currency strengthened 12 paise to trade at 71.60 against the US dollar.
  • Brent crude oil, the international standard, lost 2 cents to $62.60 a barrel. The dollar rose to 108.99 Japanese yen from 108.93 yen on Monday.
  • Market breadth was positive with 1,117 stocks rising compared to 1,086 stocks falling on BSE.
  • Bank Nifty hit all-time high today. The index rose 257 points to hit a record 31,813 compared to its previous close of 31,555.90. Similarly, BSE Bankex gained 295.54 points to hit 36,011.33, an all-time high for the index.
  • Dhiraj Relli, MD & CEO at HDFC Securities, said, "FIIs have largely been bullish on the Indian market in November, investing Rs 18,200 crore till November 25. Local investors have been investing largely through SIP, but have not withdrawn money in a big way despite a polarised market. Though the macros have still not turned positive and corporate earnings growth on a broader scale remains sluggish, we are enthused by ample liquidity in the system driving transmission, gradual normalisation of risk appetite of banks, unsold housing inventory beginning to correct,  PSU banks being recapitalised, NPA cycle peaking out and base becoming easier post December quarter. "

Also read: RCom stock rises over 4% after Airtel, Reliance Jio submit bids for assets

By Aseem Thapliyal

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