Markets

Sensex rallies 167 points to end above 58,000, Nifty closes at new lifetime high

IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards. File.   | Photo Credit: AP

Equity benchmark Sensex jumped over 160 points to close at its fresh lifetime peak on September 6, driven by gains in index majors Reliance Industries and Infosys amid strong global cues and unabated foreign capital inflows.

The 30-share index settled 166.96 points or 0.29% higher at 58,296.91. It touched an intra-day record of 58,515.85.

Similarly, the broader NSE Nifty climbed 54.20 points or 0.31% to its new closing record of 17,377.80. During the session, it touched an all-time peak of 17,429.55.

HCL Tech was the top gainer in the Sensex pack, rising over 2%, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and M&M.

On the other hand, IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards.

In Asia, bourses in Shanghai Seoul, Tokyo and Hong Kong ended with significant gains.

Equities in Europe were trading on a positive note in mid-session deals.

"Indian markets started on a positive note following positive Asian markets cues as US Fed's tightening fears cool off following disappointing jobs data and Fed Chairman comments emphasising the need for stronger jobs data before the central bank would start to unwind its massive bond-buying programme,” said Narendra Solanki, head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

"During the afternoon session, markets continued to trade in the positive zone as traders continue to get encouragement with regular foreign capital inflows on the back of strong global cues and domestic economic activity," he added.

Meanwhile, international oil benchmark Brent crude rose 0.80% to $72.03 per barrel.

Foreign institutional investors were net buyers in the capital market on Friday, as they purchased shares worth ₹768.58 crore, as per exchange data.


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Printable version | Oct 20, 2021 7:28:37 AM | https://www.thehindu.com/business/markets/sensex-rallies-167-points-to-end-above-58000-nifty-closes-at-new-lifetime-highs/article36318469.ece

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