Sensex extends gains on global cues; signs off FY19 with 17.30 pc rise

The BSE Sensex climbed over 127 points to finish at 38,672.91 Friday — the last trading day of fiscal 2018-19 during which the benchmark posted a rise of 17.30 per cent.The broader NSE Nifty closed at 11,623.90, capping off the financial year with a gain of 14.93 per cent.Investors’ wealth zoomed Rs 8.83 lakh crore during 2018-19, with the market capitalisation (m-cap) of BSE-listed companies reaching Rs 1,51,08,711.01 crore.Analysts attributed the continuing market rally to robust investor sentiment driven by foreign fund inflows, stronger rupee and a likely positive outcome of the US-China trade talks.Rising for the second straight day, the 30-share BSE Sensex started off on a strong footing at 38,675 points and touched a high of 38,748.54 before winding up at 38,672.91, recording a rise of 127.19, or 0.33 per cent.The 50-share NSE Nifty closed at 11,623.90, higher by 53.90 points, or 0.47 per cent, after hovering between 11,630.35 and 11,570.15.On a weekly basis, the Sensex advanced over 508 points, or 1.33 per cent, while the Nifty gained 167 points or 1.45 per cent.The Sensex advanced 5,704.23 points or 17.30 per cent during 2018-19, while the Nifty jumped 1,510.20 points, or 14.93 per cent.In the Sensex pack, Vedanta rallied 3.20 per cent Friday, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent.On the other hand, IndusInd Bank emerged as the top loser, dropping 2.08 per cent.Other major laggards were ITC, Bajaj Auto, ICICI Bank, Axis Bank, Asian Paints, PowerGrid, NTPC, Kotak Bank and L&T, shedding up to 1.10 per cent. “Market continued the upward movement supported by global cues, which rallied in expectation of US-China trade deal. However, the market is facing resistance while nearing the all-time high.