Sensex scales Mount 83K, Nifty closes at record high in late blue-chips rally
Mumbai, Sep 12: Benchmark Sensex hit the historic 83,000 level for the first time on Thursday and the Nifty settled at a lifetime high in a late rally in blue-chip shares, surge in global markets and foreign fund inflows.
A sharp fag-end rally drove the 30-share BSE Sensex to the 83,000 level for the first time. The barometer surged 1,593.03 points or 1.95 per cent to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade. The index closed at a record high of 82,962.71, up by 1,439.55 points or 1.77 per cent.
The NSE Nifty surged 470.45 points or 1.89 per cent to settle at a record closing high of 25,388.90. The benchmark hit its fresh all-time intra-day high of 25,433.35, a jump of 514.9 points or 2 per cent. Nifty and Sensex opened higher and traded in a range till late afternoon trade.
"The bulls took charge towards the end of the day and lifted the indices to a new high, mirroring the bullish global trend. The rate-cut optimism across the globe (ECB & US Fed) has provided a positive impetus to the global market," said Vinod Nair, Head of Research, Geojit Financial Services.
Among the 30 Sensex firms, Bharti Airtel, NTPC, JSW Steel, Mahindra & Mahindra, Adani Ports, Tech Mahindra, Larsen & Toubro, Tata Steel, State Bank of India and Kotak Mahindra Bank were the biggest gainers.
Nestle emerged as the only laggard from the blue-chip pack.
While the session remained subdued for the most part, strong buying in heavyweight stocks across sectors propelled the indices sharply upward in the final hours, Ajit Mishra - SVP, Research, Religare Broking Ltd.
In the broader market, the BSE midcap gauge jumped 1.32 per cent and the smallcap index climbed 0.79 per cent.
All indices ended in the positive territory. Metal surged 3.05 per cent, telecommunication (2.61 per cent), power (2.02 per cent), auto (1.99 per cent), utilities (1.93 per cent) and commodities (1.85 per cent).
A total of 2,335 stocks advanced while 1,612 declined and 122 remained unchanged on the BSE.
Also, 278 stocks hit their 52-week highs while 36 declined to their 52-week lows.
In Asian markets, Seoul, Tokyo and Hong Kong settled with significant gains while Shanghai ended marginally lower.
European markets were trading higher. Wall Street ended with sharp gains on Wednesday.
"Latest US inflation numbers are mildly positive for markets. August CPI inflation coming at 0.2 per cent has brought down the 12-month inflation to 2.5 per cent from 2.9 per cent earlier.
"This paves the way for a rate cut by the Fed in September. But since core inflation continues to remain high at 3.2 per cent the Fed is likely to be cautious and refrain from a 50 bps rate cut, finally settling for a 25 bps rate cut," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,755 crore on Wednesday, according to exchange data.
FIIs turning buyers in the cash market during the last three days is another indication that the market will continue to be resilient, Vijayakumar added.
Global oil benchmark Brent crude climbed 1.39 per cent to USD 71.59 a barrel.
The BSE benchmark dropped 398.13 points or 0.49 per cent to settle at 81,523.16 on Wednesday. The NSE Nifty declined 122.65 points or 0.49 per cent to 24,918.45.
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Maharashtra sets up state vaccination task force to strengthen immunisation programme
Mumbai (PTI): The Maharashtra government has set up a State Vaccination Task Force to strengthen the regular immunisation programme and review the progress of related campaigns, a health department official said on Monday.
The State Vaccination Task Force will comprise at least 29 members and will be headed by the administrative head of the health department, he informed.
The government has also constituted separate district-level and municipal vaccination task forces to improve implementation and address challenges at the grassroots level, he said.
Municipal task forces, chaired by respective civic commissioners, have been constituted in view of the vast urban population in Maharashtra and the role of civic bodies in implementing different health programmes.
The district-level task forces will function under the chairmanship of collectors.
"Complete immunisation of children at the appropriate age is an extremely simple, cost-effective and highly effective measure to reduce child mortality and the prevalence of diseases among kids. Immunisation is a powerful tool for reducing illness in children," maintained the official.
To ensure full vaccination of all children, the state government implements various campaigns from time to time as per the central government guidelines, he pointed out.
"Active participation and cooperation of other relevant government departments are essential (in making these campaigns successful)," according to the official.
The state-level body will review the regular immunisation programme, associated campaigns and vaccine-preventable diseases in detail. It will also conduct focused assessments of high-risk districts and municipal corporations, including vacancies at district, municipal and sub-district levels, availability of cold chain equipment, resource gaps and training requirements, he noted.
The state task force will review allocation and utilisation of funds for immunisation and ensure timely action by officers concerned based on reports from district and municipal task forces and state-level monitoring mechanisms, the official said.
It will also ensure active coordination and participation of other government departments in immunisation drives, while district and municipal task forces will carry out similar functions at their respective levels, the official added.
