The bull statue at the Bombay Stock Exchange (BSE) building, in Mumbai, on July 13, 2023. Equity benchmark indices extended their rally for the seventh day running on September 11 as investors continued to remain optimistic about the domestic markets.
| Photo Credit: PTI
Equity benchmark indices extended their rally for the seventh day running on September 11 as investors continued to remain optimistic about the domestic markets.
Buying in index majors Reliance Industries and Tata Consultancy Services also added to the winning momentum in equities.
The 30-share BSE Sensex climbed 293.7 points to 66,892.61 in early trade. The Nifty advanced 95 points to 19,914.95.
Among the Sensex firms, HCL Technologies, Maruti, State Bank of India, Tata Consultancy Services, Tata Motors, Wipro, Nestle, Reliance Industries, Larsen & Toubro and UltraTech Cement were the major gainers.
IndusInd Bank and Bharti Airtel were the laggards.
In Asian markets, Shanghai quoted with gains while Seoul, Tokyo and Hong Kong traded lower.
The U.S. markets ended in the positive territory on September 8.
Global oil benchmark Brent crude declined 0.18% to $90.49 a barrel.
The BSE benchmark had jumped 333.35 points or 0.50% to finish at 66,598.91 on September 8. The broader Nifty advanced 92.90 points or 0.47% to settle at 19,819.95.
“The G-20 Delhi declaration and India’s diplomatic triumph can trigger a continuation of the positive market mood and momentum,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
In the present favourable market mood, Nifty is likely to make another attempt at a record high trying to conquer the psychological mark of 20,000, Mr. Vijayakumar said adding that however, investors have to be cautious since fundamentals do not support a sustained rise above 20,000.
“The market is ignoring worries arising out of crude at $90 a barrel,” he added.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹224.22 crore on September 8, according to exchange data.