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Sensex makes biggest gain in 1st session of fiscal year


MUMBAI: Financials and RIL helped the sensex make strong gains on Friday, the first trading session of the new fiscal, with the index closing 708 points up at 59,277, nearly a two-month closing high. It was also the highest gain for the sensex on the first trading day of a fiscal. The day’s session started on a muted note but the leading indices gained through the session to close near the day’s high of 59,397.
Friday’s gains were boosted by a Rs 1,910-crore net buying by foreign funds, BSE data showed. On the other hand, domestic funds were net sellers at Rs 184 crore. The gains came despite a weak US market on Thursday.

Market players expect the geopolitical tensions in Europe, rising crude prices, inflation trajectory, the monsoon forecast for the year and the quarterly numbers that are expected through the month would dictate the market’s trajectory for the next few weeks.

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