Sensex makes history, takes 31,000; Nifty on new peak

TIL Desk/Business/Mumbai/ Stocks defied gravity for the second straight session today, propelling the Sensex past the 31,000- mark for the first time ever on the third anniversary of the Modi government. The broader Nifty too breached the 9,600-level, also in a first, before settling at a record high of 9,595.10.

Sustained buying, both by domestic and foreign investors, propped up the market at elevated levels amid optimism for more reforms by the government. The BSE Sensex has risen 25.53 per cent, while the NSE Nifty has gained 30.38 per cent since the BJP-led NDA government came to power in May 2014.

Creation of new positions by participants following the beginning of the June futures and options (F&O) series added to the momentum, brokers said. Extending the previous session’s record-setting spree, the BSE Sensex crossed the landmark 31,000-level to hit a lifetime high of 31,074.07. After paring some gains, the 30-share index settled at 31,028.21, up 278.18 points, or 0.90 per cent. It surpassed the earlier record closing of 30,750.03 hit yesterday.