Sensex kisses 27,000 as foreign inflows, CAD data trigger rally 
The BSE benchmark Sensex on Tuesday crossed 27,000 for the first time in
history and the NSE Nifty breached the pasycho-logical 8,000 mark on
continued inflows by foreign funds buoyed by improving economic data.
After rising to a record 27,019.39 during intra-day trade, the Sensex closed up 151.84 points, or 0.6%, to end at a lifetime closing high of 27,019.39.
The Nifty gained 55.35 points, or 0.7%, to close at 8,083.05. Earlier in the session, it scaled 8,100 for the first time to hit a new high of 8,101.95.
Riding high on the rally, financial services major Morgan Stanley
has upgraded its June 2015 target for the Sensex to 28,800.
“The sentiment has been very positive as investors are buying into the India story, which has seen some encouraging signs such as improved GDP growth, likely funding support from Japan and softening of crude prices,” said Sanjeev Zarbade, vice-president, private client group research, Kotak Securities.
Cipla was the top gainer among Sensex stocks (up 5.23%) followed by Bharti Airtel (up 4.24%) and Sun Pharma (up 2.50%).
“With steady US bond yields despite ongoing taper and most other central banks in easing mode, the global liquidity is strong and is looking for better investment avenues in emerging markets. With domestic fundamentals on an improving trend, India is well positioned to receive global flows,” said Harsha Upadhyaya, chief investment officer, equity, Kotak Mutual Fund.
“The sentiment has been very positive as investors are buying into the India story, which has seen some encouraging signs such as improved GDP growth, likely funding support from Japan and softening of crude prices,” said Sanjeev Zarbade, vice-president, private client group research, Kotak Securities.
Cipla was the top gainer among Sensex stocks (up 5.23%) followed by Bharti Airtel (up 4.24%) and Sun Pharma (up 2.50%).
“With steady US bond yields despite ongoing taper and most other central banks in easing mode, the global liquidity is strong and is looking for better investment avenues in emerging markets. With domestic fundamentals on an improving trend, India is well positioned to receive global flows,” said Harsha Upadhyaya, chief investment officer, equity, Kotak Mutual Fund.
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