Sensex settles above 60,000 mark; logs 4th day of gains

PTI

Mumbai, August 17

Equity benchmarks maintained their winning run on Wednesday, with the Sensex ending above the crucial 60,000 mark amid persistent foreign fund inflows.

The 30-share BSE index jumped 417.92 points or 0.70 per cent to settle at 60,260.13. During the day, it climbed 481.04 points to 60,323.25.

The broader NSE Nifty went higher by 119 points or 0.67 per cent to close at 17,944.25.

From the Sensex pack, Bajaj Finserv, Bajaj Finance, Bharti Airtel, Tech Mahindra, HCL Technologies, NTPC, Wipro and Hindustan Unilever were the biggest gainers.

On the other hand, Mahindra & Mahindra, Maruti, UltraTech Cement and Power Grid were among the laggards.

“Consistent participation by FIIs is the backbone of the current rally in the domestic market. This reversal in the FII trend is owed to the resilience showcased by the Indian economy even as inflation continues to plague the western markets.

“Declining commodity and oil prices also instilled confidence in foreign investors,” said Vinod Nair, Head of Research at Geojit Financial Services.

In Asia, markets in Tokyo, Shanghai and Hong Kong settled higher, while Seoul ended lower.

Equities in Europe were trading lower during mid-session deals. US markets had ended mostly higher on Tuesday.

Meanwhile, the international oil benchmark Brent crude dipped 0.13 per cent to USD 92.22 per barrel.

Foreign Institutional Investors (FIIs) remained net buyers in the Indian capital market on Tuesday, picking up shares worth Rs 1,376.84 crore, according to exchange data.

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