Mumbai– Healthy quarterly results along with foreign fund inflows pushed the S&P BSE Sensex to a new closing high on Monday.
However, expectations of a higher rate of retail inflation and its subsequent impact on the upcoming monetary policy review during February capped gains.
Accordingly, the BSE Sensex closed at 41,859.69 points, higher by 259.97 points, or 0.62 per cent, from its previous close of 41,599.72 points.
It had opened at 41,788.21 points and touched an intra-day high of 41,899.63 points and a low of 41,720.76 points.
Similarly, the NSE Nifty50 closed in the positive at 12,329.55, higher by 72.75 points or 0.59 per cent, than its previous close.
In terms of sectors, all sectoral indices ended in the green with IT, consumer durables and FMCG stocks gaining the most.
“Though inflation is likely to bounce much above the RBI’s comfort level, the market is buoyant due to positive expectations from the Union Budget and possible improvement in the trajectory of earnings growth as per the Q3FY20 preview,” said Vinod Nair, Head of Research, Geojit Financial Services.
“IT has provided a good start to the season and FIIs are maintaining its risk-on strategy with positive inflows in emerging market, expecting no hike in US Fed rate and improvement in EMs economies during CY2020,” he said. (IANS)