Sensex rises 351 points to all-time high, Nifty also hits new record, closes at 22,514
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Mumbai Domestic stock market benchmark indices Sensex and Nifty reached record highs on Thursday with gains of half a percent amid expectations of stability in policy interest rates and strong quarterly performance of companies. Buying in information technology, consumer durables and financial stocks played an important role in this rise in the stock markets. BSE’s 30-share index Sensex closed at its highest ever level of 74,227.63, rising by 350.81 points or 0.47 percent. During trading, the Sensex also remained at a high of 74,501.73 and a low of 73,485.12.
National Stock Exchange (NSE) index Nifty also reached its new peak of 22,514.65 with a gain of 80 points or 0.36 percent. Out of 50 stocks included in Nifty, 31 closed with gains. With this rise, the market was successful in recovering from the decline of the last two sessions. The previous highest level of Sensex was recorded at 74,119.39 points on March 7. Whereas the previous record of Nifty was 22,493.55 points. 20 stocks included in the Sensex group closed with gains. These also include HDFC Bank, Titan, Tech Mahindra, Asian Paints, TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserv.
On the contrary, shares of SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed with losses. BSE Largecap index gained 0.34 per cent and Smallcap index gained 0.54 per cent while Midcap index lost 0.11 per cent. Domestic markets traded positive in a tight range ahead of Friday’s decision on policy rate repo. Repo rate is being discussed in the meeting of the Monetary Policy Committee of the Reserve Bank. Vinod Nair, head of research at Geojit Financial Services, said, “The broader market has shown belligerence in select sectors like banks on expectations of good quarterly results and exports based on overall PMI data reflecting strong business conditions.”
In other markets of Asia, South Korea’s Kospi and Japan’s Nikkei were in the lead while the markets of Hong Kong and Shanghai remained closed due to holidays. European markets were trading in positive territory. US markets closed with mixed sentiment in Wednesday’s session. Meanwhile, international oil benchmark Brent crude rose 0.36 percent to $88.67 per barrel. According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 2,213.56 crore on Wednesday.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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