Sensex moves above 81,000 and Nifty hits a new high of 24,837

Ahmedabad: The BSE Sensex today crossed the 81,000 level on the back of fresh buying by foreign investors in the Indian stock market amid some measures to boost the economy in the budget to be presented next week and other favourable reports.

The market mood has turned in favour of reforms today after the government announced some relief measures in various sectors to boost the economy and also announced relief in the tax structure in the budget to be presented next week. Apart from this, the initial results of the June quarter also had a positive impact on the market as the results announced by major companies were better than expected.

Apart from this, considering the reports of rapid progress of monsoon across the country, there is hope of growth in the agricultural sector as well as the rural economy.

Based on these reports, the BSE Sensex, on the back of a fresh rally led by foreign investors, broke the 81,000 mark and touched an intra-day high of 81,522 and closed with a gain of 626.91 points at the end of trading. The highest level was 81,343.46. The Sensex has registered a gain of 1000 points in just 11 trading sessions.

On the other hand, NSE Nifty also rose 187.85 points to a new high of 24,800.85 at the end of the session after touching a new lifetime high of 24,837.75 intra-day today.

Despite the Sensex hitting a new high today, investors' wealth (BSE market cap) declined by Rs. 92,000 crore and finally settled at Rs. 454.32 lakh crore. Foreign investors today borrowed Rs. 5,484 crore fresh. In return, local bodies have recovered Rs. 2,904 crore worth of sales.

Small-midcaps bounce back against Sensex rally

The Sensex today touched the 81,000 mark and hit an all-time high of 81,522 intra-day on the back of fresh buying in select stocks. On the other hand, smallcap and midcap stocks declined today and their Sensex declined. Today the BSE Small Cap index fell 626 points to 53676. While the BSE Midcap index remained soft at 47352, falling 472 points.

Sensex Journey