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Trump-Kim bonhomie buoys global sentiment

Wednesday, June 13, 2018

Benchmarks surged to over four-month highs yesterday, joining a global relief rally sparked by the historic summit between the US and North Korea on denuclearisation of the Korean peninsula.

The BSE Sensex soared 209 points to close at 35,692.524, while the broader NSE Nifty reclaimed the key 10,800-mark. Asian markets advanced after North Korean leader Kim Jong-un agreed to work towards "complete denuclearisation of the Korean Peninsula" following his landmark summit with US President Donald Trump in Singapore.

Building up of positions by participants ahead of IIP and inflation data also influenced trading sentiments here, brokers said.  Healthcare counters saw robust buying triggered by attractive valuations, they added.

The BSE Sensex stayed in the positive terrain throughout the session and hit a high of 35,743.08 before ending at 35,692.52, higher by 209.05 points, or 0.59%. This is its highest closing since February 1, when the index had closed at 35,906.66.

The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52%, at 10,842.85 -- its highest close since February 1, when it had settled at 11,016.90. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 1,062.82 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 1,156.77 crore yesterday, according to provisional data.

 

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