Sensex and Nifty reached new all-time high levels in early trade on Thursday, driven by optimism about the country’s macroeconomic fundamentals, robust global market trends, and fresh foreign fund inflows. The 30-share BSE Sensex rose by 322.08 points, hitting a new lifetime peak of 72,360.51, while the Nifty climbed 90.85 points to reach an all-time high of 21,745.60. The rally marked the fifth consecutive day of gains.
Major gainers among Sensex firms included JSW Steel, NTPC, Power Grid, Bajaj Finserv, HDFC Bank, ITC, Nestle, and Tata Steel. However, UltraTech Cement, IndusInd Bank, Asian Paints, and Axis Bank lagged behind. In the Asian markets, Seoul, Shanghai, and Hong Kong reported gains, while Tokyo traded lower. The US markets closed in the green on Wednesday.
Global oil benchmark Brent crude increased by 0.13% to reach $79.75 a barrel. Foreign Institutional Investors (FIIs) turned buyers on Wednesday, purchasing equities worth Rs 2,926.05 crore. The positive cues from the US market, declining US bond yields, and the dollar index below 101 bode well for the continuation of the rally, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. On Wednesday, the BSE benchmark recorded its fourth consecutive session of gains, closing at an all-time high of 72,038.43, while the Nifty settled at a record high of 21,654.75, climbing 701.63 points and 213.40 points, respectively.
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