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Markets close at record highs on Euro zone stimulus talk

Reuters Mumbai
Last Updated : Aug 27 2014 | 10:40 PM IST
The BSE Sensex and Nifty rose on Wednesday to record closing highs, as expectations of further monetary stimulus in the Euro zone raised hopes of continued foreign inflows, lifting blue-chips such as ICICI Bank.

Foreign investors bought Indian shares worth $60.4 million on Tuesday, bringing the total for the year to nearly $13 billion in 2014.

Traders now await the expiry of equity derivatives on Thursday, India's April-June growth data on Friday and balance of payments data this week, to gauge near-term direction of the market. "India remains in a bull run. Inflows would continue as a lot of money is waiting on the sidelines to be invested in Indian shares," said Phani Sekhar, fund manager at Angel Broking.

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The broader Nifty rose 0.4 per cent, or 31.30 points, to end at a record closing high of 7,936.05, and above the psychologically important 7,900 level. The index had climbed to an all-time high of 7,968.25 on Monday.

The benchmark BSE Sensex rose 0.44 per cent, or 117.34 points, to end at 26,560.15, marking a record closing high and its fifth consecutive day of gains.

Blue-chips, which tend to benefit most from foreign inflows, led the gainers: ICICI Bank rose 2.1 per cent, Tata Motors gained 1.8 per cent.

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First Published: Aug 27 2014 | 10:40 PM IST

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