Sensex, Nifty close at new highs on fag-end buying

After a brief pause, stocks continued their upward march on Thursday, with the benchmark Sensex rising 122.59 points to a new closing peak of 29,681.77 and Nifty index gaining 38.05 points to 8,952.35 on fag-end buying in select blue-chips, amid expiry of monthly equity derivatives.

In-line earnings from some firms and strong foreign capital inflows helped the indices end in the green. While the Sensex resumed its rise after breaking an eight-session rally on Wednesday, the Nifty rose for a 10th straight session. Shares of realty, refinery, health care and FMCG sectors were the major gainers of the day.

The BSE Sensex resumed lower at 29,516.49 and dropped further to 29,378.30 on profit-booking amid lower global cues. However, it recovered to a lifetime high of 29,740.63, before ending at an all-time closing high of 29,681.77, a recovery of 122.59 points or 0.41 per cent. “The January F&O expiry induced significant volatility on the benchmark indices, with the Nifty closing higher in spite of weak global markets and negative breadth.” said WealthRays Securities, director & chief executive, Kiran Kumar Kavikondala.

Among Sensex constituents, Coal India fell about two per cent after the government announced plans to sell up to 10 per cent stake on Friday. The Nifty firmed up by 38.05 points to finish at 8,952.35, after an intra-day high of 8,966.65.

Asian stocks ended lower after the US Federal Reserve unexpectedly lifted its view on the economy, signalling that the US central bank remains firmly on track with plans to raise interest rates this year, experts said.

Key benchmark indices in China, Taiwan, Hong Kong, Japan and South Korea fell by 0.54 per cent to 1.31 per cent while Singapore Strait Times ended steady.