Sensex, Nifty end higher for 6th straight session
Extending its winning streak to the sixth consecutive session, the BSE Sensex gained over 70 points Monday as stocks made further headway powered by unabated foreign fund inflows and narrowing country’s trade deficit amid positive global cues.The 30-share benchmark advanced to hit a high of 38,369.59 as buying activity gathered momentum. However, investors locked in gains pushing the key index into the negative zone to hit a low of 37,952.10 before bouncing back to end 70.75 points, or 0.19 per cent, higher at 38,095.07.Likewise, the 50-stock NSE Nifty finished 35.35 points, or 0.31 per cent, higher at 11,462.20 after hitting the day’s high of 11,530.15 and a low of 11,412.50.Among Sensex components, Bajaj Finance topped the gainers list by surging 2.84 per cent.Other winners were PowerGrid, RIL, Axis Bank, Tata Steel, Kotak Bank, IndusInd Bank, Tata Motors, NTPC, HDFC Bank, Asian Paints, ICICI Bank, ITC, Sun Pharma and Yes Bank, rising up to 2.29 per cent.On the other hand, Maruti Suzuki, Hero MotoCorp, Bharti Airtel, HCL Tech, M&M, L&T, Infosys, Vedanta Ltd, Bajaj Auto, TCS, HDFC, ONGC, Coal India and HUL, retreated up to 2.56 per cent.A 15 per cent or 1,500-point rally has ensued in the Nifty 50 since October 2018. The market’s internals are the healthiest they have been since 2017, said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management. “First and obviously, dramatic inflows have come in from FIIs.
