New Delhi, Sep 12 (FN Bureau) In a dramatic turn of events in the last hour of trading the stock market rose to all-time high crossing the historic 83,000-mark for the first time, led by buying in heavy weight shares including Reliance Industries, Infosys, Airtel and others as the BSE Sensex soared over 1,440 points (1.77 per cent) to close at 82,962.71. The NSE Nifty also edged closer to 25,500-mark before ending the day at 25,388.90, up 470 points (1.89 per cent) from its previous close. According to initial estimates investors’ wealth rose by approximately Rs 7 lakh crore due to today’s rally at the stock market. The last-minute buying was supported by an expectation of rate cut across the globe mainly by the US, European Union and China ranging from 25 to 50 basis points.
The Foreign Institutional Investors (FIIs) had bought equities in the cash segment worth Rs 1,755 crore while the Domestic Institutional Investors (DIIs) also bought to the tune of Rs 231 crore in the last trading session, according to data available. The market is also awaiting data on the domestic economic parameters like industrial production and wholesale prices to be announced later today. The market opened with handsome gains of 407 points in the BSE Sensex at 81,930.18. During the day it was soared 1593 points to cross the historic 83,000 mark to touch 83,116.19, day’s high before closing at 82,962.71 with 1439.55 points gain.
The stocks that glittered were Metal by 3.05%, Technology by 2.06%, Power by 2.02% and Telecommunications by 2.61%. In line with the overall market, the Mid cap and the small cap indices rose by 1.32% pc and 0.79% respectively. In the 30-scrips BSE Sensex, shares of all 30 companies advanced and ended in green. In today’s trade, the gainers were Bharti Airtel by 4.36% to Rs 1646.50, NTPC by 3.87% to Rs 404.80, M& M by 3.36% to Rs 2742.25, JSW Steel by 3.06% to Rs 955.25 and Adani Ports by 2.94% to Rs 1472.25. Shares of FMCG firm Nestle India Ltd by declined 0.09% to Rs 2524.15.