31 C
Thursday, April 25, 2024

Sensex, Nifty close at all-time highs on gains in HDFC twins, RIL

- Advertisement -
- Advertisement -


MUMBAI, June 21 (PTI): Benchmark indices Sensex and Nifty rallied to close at all-time highs on Wednesday following buying in index majors HDFC twins and Reliance Industries.

- Advertisement -

Positive trends in European markets also added to the momentum in domestic equities.

Rising for a second straight day, the 30-share BSE Sensex climbed 195.45 points or 0.31 per cent to settle at a record high of 63,523.15. During the day, it jumped 260.61 points or 0.41 per cent to its all-time intra-day peak of 63,588.31. On December 1 last year, the Sensex hit its intra-day record peak of 63,583.07.

The NSE Nifty advanced 40.15 points or 0.21 per cent to end at its lifetime closing peak of 18,856.85. The stock touched an intra-day high of 18,875.90 following gains in financials, IT and power shares.

From the Sensex pack, Power Grid rose the most by 3.68 per cent. HDFC Bank rose by 1.71 per cent, HDFC by 1.66 per cent, Tech Mahindra by 1.13 per cent, and Tata Consultancy Services by 0.94 per cent. Wipro, Reliance Industries and Larsen & Toubro were among the gainers.

- Advertisement -

Mahindra & Mahindra fell the most by 1.59 per cent, followed by ITC, IndusInd Bank, Axis Bank, Bajaj Finance and Maruti.

“It’s a pleasure to see Sensex reaching a new all-time high in spite of several challenges from the global front. We are waiting for the June quarterly results to trickle in with hopes that it would be by and large in sync with expectations,” said Rakeshh Mehta, Chairman, Mehta Equities Ltd.

“Sensex rallying to all-time-high is in tune with the global rally in stock markets. Most markets are at 52- week highs. Last year, global markets had corrected discounting a US recession early this year and its impact on global growth and corporate earnings,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

In the broader market, the BSE midcap gauge climbed 0.68 per cent and smallcap index gained 0.24 per cent.

- Advertisement -

Among the indices, utilities jumped 1.19 per cent, services climbed 1.18 per cent, power (1.08 per cent), telecommunication (0.81 per cent), financial services (0.60 per cent) and oil & gas (0.57 per cent).

Commodities, industrials, auto, metal and realty were the laggards.

S Ranganathan, Head of Research at LKP Securities said that benchmark indices touched new highs on the back of sustained increase in capital expenditure by the government coupled with rising manufacturing PMI.

The return of FIIs to Indian markets since April has boosted sentiments even as domestic investors continue to repose confidence in Indian equities, Ranganathan said.

In Asian markets, Tokyo ended in the green, while Seoul, Shanghai and Hong Kong settled lower.

Equity markets in Europe were trading mostly in the green. The US markets ended lower on Tuesday.

Global oil benchmark Brent crude climbed 0.03 per cent to USD 75.98 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 1,942.62 crore on Tuesday, according to exchange data.

- Advertisement -
The Hills Times
The Hills Timeshttp://www.thehillstimes.in
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur.
Latest news
- Advertisement -
Related news
- Advertisement -
Must-Try Traditional Dishes From Kerala Top 7 Must Visit Destinations Near Bengaluru 10 Yoga Poses That Can Improve Concentration Power 10 Spots To Explore In Aizawl 10 Hidden Gem Hill Stations In India To Escape The Summer Heat In April / May