Sensex surpasses 79,000 for the first time, and Nifty achieves a new lifetime high.
Nifty also recovered, jumping 97.6 points to a new all-time high of 23,966.40
Benchmark indices rallied after dipping in early trade on Thursday, with the Sensex breaking through the historic 79,000 barrier for the first time and the Nifty setting a new record high on buying in blue-chip stocks.
The 30-share BSE Sensex surged 339.51 points to a new lifetime high of 79,013.76 after dipping in early trade, aided by purchases of blue-chips Reliance Industries and ICICI Bank. The Nifty also recovered, jumping 97.6 points to a new all-time high of 23,966.40.
The top gainers among the 30 Sensex businesses were UltraTech Cement, JSW Steel, Reliance Industries, Axis Bank, ICICI Bank, Bajaj Finance, Kotak Mahindra Bank, and Tata Steel.
Maruti, Tech Mahindra, HCL Technologies, and Larsen & Toubro were the main laggards.
“The market will remain bullish in the near-term despite the valuation concerns, and the ongoing momentum has the potential to take the Sensex to 80,000 levels.
“A healthy trend in the market is that now the up move is being led by fundamentally strong largecaps in sectors like banking and telecom. With RIL, which had not participated in the rally till yesterday joining the bull bandwagon, the rally has the strength to continue,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Seoul, Tokyo, Shanghai, and Hong Kong all experienced decreased trade in Asian markets. Meanwhile on Wednesday, US markets closed in the positive territory.
FIIs sold equities worth ₹ 3,535.43 crore on Wednesday, according per market data.
Brent crude, the global oil standard, fell 0.21 per cent to USD 85.07 per barrel.
You might also be interested in – Sensex, Nifty reach new highs as PM Modi’s 3rd term boosts market sentiment
