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Market rally continues, Nifty breaches 8,800-mark

Wednesday, Aug 31, 2016,10:25 IST By metrovaartha A A A

Mumbai | Stock markets continuing their winning run for the third straight session, with the NSE Nifty reclaiming the psychological 8,800 level after 16 months and BSE Sensex rising over 131 points in early trade Wednesday on widespread gains amid sustained foreign fund inflows.

The National Stock Exchange’s index Nifty surged by 55.90 points, or 0.63 per cent to, 8,800.25.

While, the 30-share Sensex surged by 131.37 points, or 0.46 per cent, to 28,474.38 points in early trade.

The gauge had gained 560.76 points in the previous two sessions.

All the sectoral indices, led by realty, banking and healthcare were trading in the positive zone with gains up to 1.08 per cent.

Brokers said sentiment was largely bolstered on sustained foreign fund inflows and persistent buying by domestic financial institutions as well as retail investors.

Besides, a firming trend at other Asian markets boosted sentiment, they said.

Japan’s Nikkei moved up by 0.79 per cent, Shanghai Composite Index rose 0.18 per cent in early trade today. Hong Kong’s Hang Seng was slightly up.

The US Dow Jones Industrial Average, however, ended 0.26 per cent down in yesterday’s trade.

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