Market rises for seventh day, closes at record highs on late buying : Bulletin: Business Today
Business Today

Market rises for seventh day, closes at record highs on late buying

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July 31, 2018

The market rebounded in last 30 minutes of trade to close at new life-time highs on late buying in Reliance Industries, HUL, Infosys and Hero MotoCorp stocks.  

Extending their record run for the seventh day in a row, the Sensex and Nifty hit their fresh all-time highs of 37,644 and 11,366, respectively.

Later, the Sensex closed at 37,606, up 0.30% or 112 points. Nifty rose nearly 37 points or 0.33% to end at 11,356 level.

A recovery in rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend, brokers said.

Traders were cautious ahead of RBI's monetary policy outcome tomorrow.

Of 30 Sensex stocks, 18 closed higher.

Meanwhile, FIIs sold shares worth a net of Rs 234.04 crore on Monday, while DIIs bought shares worth a net of Rs 48.58 crore, provisional data showed.

For the month, Sensex rose 6.16%, while the Nifty 50 advanced 5.99%. BSE MidCap and SmallCap rose 0.33% and 0.66%, respectively.

Market breadth was positive with 1494 stocks closing higher compared with 1159 ending in the red on BSE. 155 stocks were unchanged.
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