Sensex and Nifty scale fresh lifetime highs
Extending its winning streak to the fourth straight session, equity benchmark Sensex ended 123.07 points higher at a fresh record on Thursday amid gains in index majors Reliance Industries, HDFC Bank, and ITC. After scaling its lifetime peak of 54,717.24 during the day, the 30-share index settled 123.07 points or 0.23% higher at its record high of 54,492.84.
In a similar movement, the NSE Nifty rose 35.80 points or 0.22% to an all-time peak of 16,294.60, touching an intra-day record of 16,349.45. Bharti Airtel was the top gainer in the Sensex pack, surging around 4%, followed by ITC, Tech Mahindra, Tata Steel, and HCL Tech. On the other hand, SBI, IndusInd Bank, Bajaj Finance, and ICICI Bank were among the laggards.
"Domestic benchmark indices extended gains as rebound in IT and metals supported them to scale new highs. Additionally, recovery in FMCG stocks and RIL supported market," said Binod Modi, Head of Strategy, Reliance Securities. "However, it was...not a broad-based rally as profit booking in midcap and smallcap stocks remained visible with Nifty midcap and smallcap indices declining for the third consecutive day," he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, and Seoul ended in the red, while Tokyo closed with gains. Equities in Europe were largely trading on a positive note in mid-session deals. Meanwhile, the international oil benchmark Brent Crude advanced 0.72% to $70.89 per barrel.