Ensex rallies 663 points o close above 57K-mark
Equity benchmarks ped to record highs for yet her session on Tuesday, the Sensex closing above 00 for the first time while ifty scaled the 17,000-mark vestors remained in buying e amid growth optimism bullish global cues. arket sentiment was posiahead of the release of Q1 data, traders said, adding a ngthening rupee added to momentum. Rising for the th session on the trot, the hare BSE Sensex soared 63 points or 1.16% to its fresh rd close of 57,552.39. It hed a lifetime high of 25.26 during the session. market capitalisation of listed companies jumped to ll-time high of ₹250 lakh e at close of trade. It took the ex just two sessions to climb the 56,000 closing level to 57,000-mark. The broader Nifty extended its winning k for the seventh day, rally01.15 points or 1.19 per cent n all-time closing peak of 2.20. It touched an intra-day rd of 17,153.50. Bharti Airtel the top gainer in the Sensex pack, rallying 6.99%, a day after its chairman Sunil Bharti Mittal indicated raising tariffs. Bajaj Finance, Bajaj Finserv, Asian Paints, Titan, TCS and Tech Mahindra were among the other major gainers, spurting up to 4.94 per cent. In contrast, Nestle India, Indusind Bank and Reliance Industries were the only laggards, shedding as much as 1.55%.
“Led by bulls, domestic indices breached record highs amid broad-based buying due to continuation of Fed’s dovish policy and the expected release of domestic GDP data,” said Vinod Nair, head of research at Geojit Financial Services. Domestic equities extended gains with Nifty surpassing 17,000 levels within a month, said Binod Modi, head—strategy at Reliance Securities.
“Sustained buying momentum across all sectors and favourable global cues aided markets. All key sectoral indices traded in green with metals, financials (excluding banks) and pharma witnessing stronger recovery,” he noted.
Bharti Airtel was in focus again due to clarity over fund raising and indication of tariff hike. However, midcap and smallcap stocks underperformed on profit-booking, he said. All sectoral indices ended on a positive note, with BSE telecom, teck, utilities, healthcare and metal indices rallying up to 4.90%.
Broader BSE midcap and smallcap indices rose up to 0.86%.
World stocks maintained their upward trajectory on economic recovery hopes, bolstered by dovish comments from the US Federal Reserve.