Markets

Sensex rallies 453 points to new peak; Nifty claims 18,100 level

Equity benchmark Sensex soared 453 points to touch a new closing high of 60,737 on Wednesday, tracking gains in index heavyweights Reliance Industries, ITC and Infosys amid a positive trend in global markets.

After scaling a record peak of 60,836.63 during the session, the 30-share Sensex settled 452.74 points or 0.75 % higher at 60,737.05, taking its winning run to the fifth consecutive day. Similarly, the Nifty rallied 169.80 points or 0.94 % to 18,161.75. It touched an intra-day record of 18,197.80.

M&M was the top gainer in the Sensex pack, zooming over 5 %, followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel.

On the other hand, Maruti, HUL, Nestle India, Axis Bank and SBI were among the laggards.

"Domestic equities remained steady and witnessed sharp up-move with benchmark Nifty and Sensex recording fresh all-time highs amid mixed cues from global equities," said Binod Modi, Head Strategy at Reliance Securities.

Sustained rebound in financials and Reliance Industries supported broader indices. Tata Group stocks were in focus especially Tata Motors after company announced $ 1 billion investment from TPG in Electric Vehicle division valuing EV business strong at $ 9.1 billion.

Elsewhere in Asia, bourses in Shanghai and Seoul ended with gains, while Tokyo was in the red.

Stock exchanges in Europe were also trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude fell 0.54 % to $ 82.97 per barrel.


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Printable version | Nov 30, 2021 9:49:09 AM | https://www.thehindu.com/business/markets/sensex-rallies-453-points-to-new-peak-nifty-claims-18100-level/article36982013.ece

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