Sensex, Nifty hit fresh all-time high levels in early trade

The country's macroeconomic fundamentals, firm global market trends, and fresh foreign fund inflows contributed to the market high

Published - December 28, 2023 10:36 am IST - Mumbai

Equity benchmark indices Sensex and Nifty hit new all-time high levels in early trade on December 28.

Equity benchmark indices Sensex and Nifty hit new all-time high levels in early trade on December 28. | Photo Credit: The Hindu

Equity benchmark indices Sensex and Nifty hit new all-time high levels in early trade on December 28 amid optimism over the country's macroeconomic fundamentals, firm global market trends, and fresh foreign fund inflows.

Rallying for the fifth day running, the 30-share BSE Sensex jumped 322.08 points to reach its new lifetime peak of 72,360.51 in early trade. The Nifty climbed 90.85 points to reach its all-time high of 21,745.60.

Among the Sensex firms, JSW Steel, NTPC, Power Grid, Bajaj Finserv, HDFC Bank, ITC, Nestle and Tata Steel were the major gainers.

UltraTech Cement, IndusInd Bank, Asian Paints, and Axis Bank were among the laggards.

In Asian markets, Seoul, Shanghai, and Hong Kong quoted with gains while Tokyo traded lower.

The U.S. markets ended in the green on December 27.

Global oil benchmark Brent crude climbed 0.13% to $79.75 a barrel.

Foreign Institutional Investors (FIIs) turned buyers on December 27 after continuous offloading and bought equities worth ₹2,926.05 crore, according to exchange data.

"Strong cues from the mother market U.S., steadily declining U.S. bond yields and the dollar index below 101 augurs well for the continuation of the rally," said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Rising for the fourth straight session, the BSE benchmark jumped 701.63 points, or 0.98%, to settle at its all-time closing high of 72,038.43 on December 27.

The Nifty climbed 213.40 points, or 1%, to settle at a record high of 21,654.75.

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