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Sensex Crosses 38,000 On Global Cues And Positive FII And Rupee Sentiment

Roshni Agarwal

In Friday's session, benchmark index Sensex tracking global cues with continuously increasing foreign fund flow into the domestic equities market and positive rupee trajectory, crossed the crucial 38,000 points. Nifty also surged in trade to reach 11,426.70.

At later hours, however early morning gains have been pared with Sensex trading with gains of 37983.84 or 228.95 points (+0.61%), Nifty which is the barometer of the National Stock also was trading lower in comparison at 11,415.90 with gains of 0.64% or 72.65 points.

Advances in the Sensex have been led by stocks from the banking and financial stocks, with major gainers being ICICI Bank, HDFC Bank, Reliance Industries, SBI, Kotak Bank and Titan among others.

Experts foresee the bull run to likely continue and not too much volatility is expected even amid general assembly election. Sensex is expected to touch the 50,000 mark in the next decade. During the current calendar year, FIIs have pumped in Rs. 30,000 crore, which is seen as a big positive for the Indian equities market.

Another factor i.e. pulling up the Sensex as cited by experts is that the investors are factoring another term for the Modi government.

Also, Asian stocks got a boost as reports came in that pointed at progress in US-China trade talks.

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