Led by IT stocks, Sensex, Nifty close at recordhigh
The BSE ended the day at 52,474.76, while the NSE Nifty advanced to 15,799.35
Equity benchmark Sensex climbed 174 points to close at its all-time high on Friday, tracking gains in index heavyweights Reliance Industries, Infosys and TCS amid a largely positive trend in global equities.
After touching a record intraday peak of 52,641.53, the 30-share BSE index ended 174.29 points or 0.33% higher at 52,474.76. Similarly, the broader NSE Nifty advanced 61.60 points or 0.39% to its lifetime peak of 15,799.35.
Dr Reddy’s was the top gainer in the Sensex pack, rising over 3%, followed by Powergrid, TCS, HCL Tech, Infosys and Reliance Industries.
On the other hand, L&T, Indusind Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
“Domestic equities extended gains with key benchmark indices Nifty and Sensex recording fresh all-time highs,” said Binod Modi, Head—strategy at Reliance Securities.
A sharp rebound in IT, metals and RIL supported benchmark indices. Expectations of sharp recovery in economic activities and indications from government to roll out capital expenditure programme for FY22 faster lifted sentiments, he added.
Elsewhere in Asia, bourses in Shanghai and Tokyo were in the red, while Hong Kong and Seoul ended on a positive note.
Equities in Europe were largely trading with gains in mid-session deals.
International oil benchmark Brent crude was trading 0.22% higher at $72.68 per barrel.
Powergrid was the top gainer in the Sensex pack, rising around 2%, followed by Reliance Industries, ONGC, HCL Tech, Sun Pharma, Infosys and HDFC twins.
On the other hand, Bajaj Finserv, HUL, Bajaj Finance, Titan and Tech Mahindra were the laggards.
In the previous session, Sensex finished 358.83 points or 0.69% higher at 52,300.47, and Nifty climbed 102.40 points or 0.65% to end at 15,737.75..
Foreign institutional investors (FIIS) were net buyers in the capital market as they purchased shares worth ₹1,329.70 crore on Thursday, as per provisional exchange data.
Improving business environment from the beginning of June, led by phased withdrawal of business curbs by the states has lifted sentiments among investors, said Binod Modi Head-strategy at Reliance Securities.
High frequency key economic indicators are likely to see remarkable improvement from current month onwards, which should sustain premium valuations of the market, he noted.
Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were in trading on a positive note in mid-session deals, while Shanghai was in the red.