Sensex, Nifty Hit Record Highs; Hindalco, Maruti Gain


Financial Technologies India Ltd (FTIL) rose 3.2 percent  to 275.85 after its promoter Jignesh Shah, who was arrested on 4 May in connection with the 5,000 crore fraud at the National Spot Exchange Ltd, secured bail from the Bombay high court on Friday.

Since the beginning of this year, the Sensex has gained 25.19 percent, while foreign institutional investors have bought $12.64 billion from local equity markets.

Asian markets are trading higher. Stocks rose as investors weighed comments from central bank leaders for cues to monetary policy. Hong Kong’s Hang Seng was down 0.32 percent, China’s Shanghai Composite was down 0.54 percent and Japan’s Nikkei Stock Average was trading up 0.2 percent.

At an annual gathering of central bankers in Jackson Hole, Wyoming, the Federal Reserve chair Janet Yellen came out more balanced than expected, Reuters reported.

According to the report, Yellen cited persistent labour market slack but also noted that faster recovery in the sector could accelerate the timing of a Fed interest rate hike.

 In another report, pressure is building within the U.S. Federal Reserve for officials to move as early as next month to lay the groundwork for the central bank’s first interest rate hike in nearly a decade.

Over the weekend, U.S. markets closed marginally lower. The S&P 500 down 0.20 percent. The Nasdaq Composite up 0.14 percent and Dow Jones Industrial Average were down 0.22 percent.

Source: PTI