Sensex: Benchmark equity indices reached all-time highs on Wednesday as a result of a surge in the US and European stock markets and fresh inflows of foreign capital. The Sensex reached a record high of 64,000 and the Nifty reached a high of 19,000 points. The upward trend was also helped by investing in market heavyweight equities like Reliance Industries and HDFC Bank.
Sensex Surges 621 Points to Reach All-Time High
The 30-share BSE Sensex increased its gain from the previous day by 621.07 points, reaching an all-time high of 64,037.10 in afternoon trade. A gain of 193.85 points brought the NSE Nifty to its all-time high of 19,011.25. “Nifty made a new all-time high on June 28, triggered by buying from institutions and retail/HNI segments. Improving US economic data and hints from China about fresh stimulus measures have helped improve sentiments,” said Dhiraj Relli, MD & CEO, HDFC Securities Ltd.
NTPC, Tata Motors, Titan, and Other Heavyweights Drive Sensex Surge
Among the leading gainers from the Sensex pack were NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank, and Power Grid. The leaders were Tech Mahindra and Wipro. Tokyo and Hong Kong were trading higher on Asian markets, while Seoul and Shanghai were trading down. European stock markets are currently trading in the black. Tuesday’s US stock markets ended substantially higher. “Nifty finally succeeded in crossing its previous highs after attempting to do so numerous times over the past few days. According to Siddhartha Khemka, Head of Retail Research, Broking and Distribution at MOFSL, the domestic market reached new highs as a result of strong institutional flows, positive macroeconomic conditions, and robust earnings growth. To reach USD 72.32 per barrel, benchmark Brent crude saw a 0.08 percent increase. According to exchange statistics, foreign institutional investors (FIIs) purchased shares of stock worth 2,024.05 crore on Tuesday. The BSE benchmark increased 446.03 points or 0.71 percent on Tuesday to close at 63,416.03. To finish at 18,817.40, the Nifty gained 126.20 points, or 0.68 percent.
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