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Sensex closing in on 50K-mark, ends on a new high
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SME Times News Bureau | 20 Jan, 2021
The Indian equity indices continued their upward journey for second
consecutive day on Wednesday with key indices closing at record highs.
The S&P BSE Sensex closed in on the 50,000-mark, hitting an intra-day high of 49,874 points, just 126 points short.
Market
analysts cited positive global cues, healthy quarterly results and
slow-but-sustained FII inflows as the factors for indices' rise.
Globally, shares were mostly higher ahead of Joe Biden's inauguration as US President on Wednesday.
On the domestic front, sustained FII inflows and strong corporate earnings kept the sentiments high.
Among sectors, auto, IT, PSU banks and media rose the most while FMCG ended marginally in the negative.
Besides,
rise in the shares of index-heavyweight Reliance Industries (RIL) also
supported the Sensex. Its shares closed at Rs 2,054.85, higher by Rs
38.55, or 1.91 per cent, from its previous close.
Consequently,
Sensex ended at its record closing level of 49,792.12, higher by 393.83
points, or 0.80 per cent, from its previous close of 49,398.29.
The Nifty50 too settled at new closing high of 14,644.70, higher by 123.55 points, or 0.85 per cent, from its previous close.
"Nifty
made a new intra day high reflecting the underlying strength in the
indices. Its close was the highest ever," said Deepak Jasani, Head of
Retail Research at HDFC Securities.
"Volumes after rising post
January 4, have come back to normal. Advance decline ratio has improved
to much above 1:1. Institutional buying (esp FPI) has gradually slowed
however neither the institutions nor the non-institutional participants
seem to be in a hurry to take profits even as the budget looms ahead."
Siddhartha
Khemka, Head - Retail Research, Motilal Oswal Financial Services, said:
"Going ahead, market momentum could continue for few days on the back
of positive global cues and good earning season so far."
"However, run-up to the Budget expectations could add some volatility to the market."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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