Sensex gains steam after crossing 35,000, Nifty hits 10,887: Five things to know

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The Sensex and Nifty on Thursday rose to their fresh lifetime highs a day after logging clocking record closing at 35,081 and 10,788 levels, respectively. While the Sensex rose more than 390 points to hit a fresh life high of 35,476, Nifty touched a new high of 10,887, rising nearly 100 points from Wednesday's close. Even as there are several factors which have led the Indian markets to fresh highs this year, we take a look at five things you should know about the huge rally on Dalal Street.
Sensex, Nifty surpass one year returns
The Sensex is up an astonishing 35% since the beginning of this year in just 14 trading sessions. This is more than the 28.80% returns it has delivered during the last one year. Nifty too is not far behind with 36.85 % returns since the beginning of this year surpassing 28.50% returns it has generated during the last one year.
FIIs back in action
After a gap of 5 months, FII activity in the Indian market has shown a positive trend. Since August 2017, FIIs clocked net sales of nearly Rs 67,718 crore in Indian market, indicating negative course for foreign capital flows. That trend took a U turn in January with FIIs bringing Rs 2,124 crore till January 17 , 2018.  DIIs too clocked Rs 1,195 crore in purchases reflecting positive sentiment in the Indian growth story.

100% FDI in banking
Today, banking stocks led the charge on Dalal Street with Bank Nifty rising nearly 600 points to hit fresh high of 26,887. On the BSE, Bankex too rose to new level of 30,540 rising nearly 700 points on reports the Narendra Modi government was considering allowing 100% FDI into the Indian banking sector. Reports also say the government was considering raising the permissible limit for FDI in public sector banks to 49 percent from the current 20 percent, apart from allowing 100% FDI in the banking sector.

Lesser borrowings
Banking stocks extended their rally today with the Bank Nifty rising nearly 600 points to hit fresh high of 26,887.  On Wednesday, Bank Nifty rose 314 points or 1.21% to 26,289.10, a fresh closing high as easing fiscal deficit worries for the current fiscal supported market sentiment after the goverment lowered the additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore estimated earlier.
Global markets
Asian stocks struck record highs on Thursday, with a rally by Wall Street supporting bullish investor sentiment, while the dollar pulled back from three-year lows as comments by European Central Bank officials tempered the euro's recent rally. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, building on the previous day's gains to make a fresh peak.
Australian stocks were flat, South Korea's KOSPI added 0.2 percent and Japan's Nikkei was last up 0.4 percent after reaching its highest level since late 1991. Shanghai rose 0.4 percent and Hong Kong's Hang Seng advanced 0.4 percent.
US stocks jumped on Wednesday and the Dow closed above 26,000 for the first time as investors' expectations for higher earnings lifted stocks across sectors.  Optimism over prospects for sustained strong global growth and improved corporate earnings have helped share markets rally at the start of 2018.

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