Sensex hits 42,000-mark for first time ever; Nifty above 12,380

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NEW DELHI: Equity indices on Thursday scaled fresh peaks with the benchmark BSE sensex crossing the 42,000-mark for the first time ever. Sensex jumped over 150 points to hit an all-time high of 42,059; while the broader NSE Nifty touched new lifetime peak of 12,388.

Top gainers in the sensex pack include Hindustan Unilever, Nestle India, Kotak Mahindra Bank, Reliance Industries, PowerGrid, Sun Pharma and ICICI Bank with their shares rising as much as 1.33 per cent.

On NSE, except for Nifty Metal, all other sub-indices were trading in green with Nifty Media and FMCG (fast moving consumer goods) up as much as 1.22 per cent.

On the global front, stocks inched to a record high after the United States and China signed a deal to defuse their 18-month trade war, which has weighed on global economic growth and hampered investments.

US President Donald Trump and Chinese vice Premier Liu He on Wednesday signed a deal that will roll back some tariffs and see China boost purchases of US goods and services by $200 billion over two years.

The deal does not address structural economic issues that led to the trade conflict, and does not fully eliminate the tariffs while the $200 billion purchase targets look daunting to achieve.

“Whether somebody looks at this as big progress or little progress, it is something tangible and so the arrow is pointing in a direction that the market is comfortable with,” Chuck Carlson, chief executive officer of Horizon Investment Services at Hammond, Indiana in the United States, told news agency Reuters.

Meanwhile, in terms of domestic trade, foreign investors bought equities worth 279.53 crore on a net basis on Wednesday, provisional exchange data showed.

(With agency inputs)

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