Sensex Up Over 300 Points, Nifty Surges To Record High
By Administrator_ India
The Indian equity benchmarks staged a gap-up opening in trade on Thursday led by gains in Reliance Industries, Infosys, HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and HDFC. The Sensex rose as much as 391 points and the Nifty 50 index surged to an all-time high of 15,678.55. Declining cases of Covid-19 in the country have sparked hopes of faster economic revival which has led to bullish sentiment among market participants, analysts said.
As of 9:23 am, the Sensex was up 257 points at 52,106, and Nifty advanced 81 points to 15,657.
Meanwhile, Asian shares were a touch below a recent three-month top on Thursday with China a tad weaker as investors weighed inflation concerns ahead of key U.S. economic data while oil prices rose to near 1-1/2 year highs.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent to 711 points. It went as high as 712.57 on Wednesday, a level not seen since early March.
Back home, buying was visible across sectors as all the 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Metal index’s over 1 percent gain.
Nifty auto, IT, PSU bank, media, and realty indices also rose between 0.4-1 percent.
Mid- and small-cap shares largely outperforming their larger peers as Nifty Midcap 100 index rose 0.8 percent and the Nifty Smallcap 100 index climbed nearly 1 percent.
Titan was the top Nifty gainer, the stock rose nearly 4 percent to ₹ 1,646. HDFC, Kotak Mahindra Bank, ONGC, Power Grid, Reliance Industries, HDFC Life, Tata Motors, Shree Cements, Adani Ports, and State Bank of India also rose between 0.7-1.5 percent.
