Nifty50 gains for eighth consecutive trading session, up 99 points

The benchmark Nifty50 on Thursday gained for an eighth consecutive trading session. The index rose 99 points, or 0.5 per cent, to close at 19,497. In an interrupted run since June 26, the index has added 831 points, or 4.5 per cent. This is the index’s longest unbeaten gaining streak since April. Back then the index had soared 876 points, or 5.2 per cent, after gaining for nine consecutive days. The Sensex last closed at 65,786, up 340 points, or 0.5 per cent. The 30-share index has posted gains in six out of the last eight trading sessions.

The broader markets outperformed the benchmark indices sharply for a second day. The Nifty Midcap 100 and the Nifty SmallCap 100 rose 1 per cent and 0.8 per cent, respectively, on Thursday. The market cap of all BSE-listed companies rose to Rs 301.7 trillion. The sharp up move in the market has come on the back of robust flows from overseas investors. In June, they pumped in Rs 52,366 crore ($6.4 billion)—most since August 22. So far in July, they have invested more than Rs 20,000 crore ($2.3 billion).