Sensex hits new peak on Sebi measures, crosses 31500

BSE Sensex closed flat at 31,290.74 points and NSE Nifty too closed flat at 9,630.00 points

The BSE Sensex made a strong recovery of 136 points at the start on June 22 on the back of a slew of steps by regulator Sebi to make markets more attractive for investments.

The wider Nifty of the National Stock Exchange (NSE) rose by 47.45 points, or 0.49 per cent, to trade at 9,681.05 points. Intra-day, it hovered between 9,698.85 and 9,617.75.

The benchmark BSE Sensex hit a record high in early trade before paring gains to end the session up 7.10 points at 31,290.74. The stock had hit a high of Rs 160.20 so far during the day, which is also its record high.

"In the second half of the session, profit booking was seen and being weekly Bank Nifty expiry, traders took profits off the table".

The watchdog also chose to expand eligible jurisdiction for grant of FPI registration by including countries with diplomatic tie-ups with India.

Meanwhile, Gail India was the top loser in Nifty, down 1.29 per cent followed by Hindustan Unilever, Lupin, Tata Power, Wipro and ONGC. It had lost 27.93 points in the previous two sessions. A glut of physical supply looms large from non- OPEC countries which weighed on sentiments. The weakness in the rupee too put some pressure.

The stock had outperformed the market over the past one month till 21 June 2017, advancing 31.12% compared with the Sensex's 2.69% rise.

Buying was also visible in mid and small cap shares.

Except banking, all other BSE sectoral indices ended in the negative zone.

Foreign funds sold shares net Rs 152.82 crore yesterday and DIIs sold 41.39 crore, as per the provisional figures.

Major gainers in the 30-share index were Reliance Industries (1.64%), Tata Motors (1.21%), Bharat Heavy Electricals (0.95%), Housing Development Finance Corporation (0.91%), Asian Paints (0.80%), and Axis Bank (0.73%).

Auto stocks also climbed, with the Nifty Auto index up much as 0.9 per cent, its biggest intraday percentage gain in almost two weeks.

Hong Kong's Hang Seng firmed up 0.18 per cent while Shanghai Composite rose 0.72 per cent. Japan's Nikkei, however, fell 0.10 per cent in early trade on Thursday.

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