The Sensex and the Nifty ended at fresh lifetime peaks on Tuesday amid a largely firm trend in other Asian markets and continuous foreign fund inflows.
The 30-share BSE Sensex gained 177.04 points, or 0.28 per cent, to settle at 62681.84, its fresh record closing high. During the day, it jumped 382.6 points, or 0.61 per cent, to its lifetime intra-day peak of 62887.40.
The broader NSE Nifty advanced 55.30 points, or 0.30 per cent, to end at 18618.05, its fresh record closing high.
“While the winning streak continued and key benchmarks scaled new highs, investors traded with caution in a slightly volatile market. There are worries about growing protests in China over the imposition of strict lockdowns, which markets fear could hurt the already slowing global economy.
“If the situation doesn’t improve, this could impact the market. But since India is in a slightly better position compared to other major economies, investors are willing to bet big on us,” said Shrikant Chouhan, head of equity research (retail), Kotak Securities Ltd.
“Indian markets opened on a positive note following a positive Asian markets ... During the afternoon session the markets continued their positive trend with heavy buying in FMCG and consumer durables stocks.
“Sentiments remained optimistic as data showed that foreign portfolio investors have infused funds worth Rs 32,344 crore in the Indian stock markets so far in November and became net buyers again,” said Narendra Solanki — head fundamental research — investment services, Anand Rathi Shares & Stock Brokers.
Gland Pharma share
Shares of Gland Pharma on Tuesday zoomed nearly 8 per cent on the bourses on reports that its Chinese parent is considering a sale of the drug maker.
The scrip ended at Rs 1879.60 — a rise of 7.71 per cent or Rs 134.60 on the BSE. During intra-day trades, the counter shot up to Rs 1,914, a rise of 9.68 per cent.
These gains in Gland Pharma came on the back of a Bloomberg report which said that Fosun Pharma, which currently holds nearly 58 per cent, may sell the company.
