Sensex, Nifty at fresh peaks on unabated FII buying

Mumbai : Logging its longest winning run in nearly a year, benchmark BSE Sensex rose for the 10th straight day to close at a fresh lifetime high on Monday, tracking foreign fund inflows and a rally in the US markets.

The 30-share Sensex rose by 194.07 points or 0.24 per cent to settle at a record high of 82,559.84. During the day, it surged 359.51 points or 0.43 per cent to reach a new intra-day record peak of 82,725.28. The index surged for the 10th straight session, which is its longest gaining streak since September 2023 when it rose for nine straight days in the first half of the month. The NSE Nifty rose for the 13th straight day, which experts said, was its longest winning run in decades. The 50-share index climbed 42.80 points or 0.17 per cent to settle at a lifetime high of 25,278.70. During the day, it soared 97.75 points or 0.38 per cent to hit a fresh intra-day peak of 25,333.65. In a 13-day gaining streak since August 14, the Nifty has rallied 4.72 per cent or nearly 1,140 points. Sensex has risen by 2.65 per cent or 2,135.16 points in its 10 straight days of gains.

“The market has entered a zone of steady but mild up-move caused by the accumulation of quality large-caps. FIIs turning buyers last week mainly due to some large bulk deals also has improved sentiments in the market,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

In the BSE smallcap gauge declined 0.47 per cent and the midcap index dipped 0.03 per cent. Among the indices, FMCG jumped 0.75 per cent, financial services (0.55 per cent), IT (0.37 per cent) and bankex (0.32 per cent).

“Nifty ended on a positive note on Monday extending gains for the 13th consecutive session, its longest run in decades,” said Deepak Jasani, head (retail research), HDFC Securities.