Bourses continue to bask in record-setting binge
Funds’ focus seen shifting to primary market
Mumbai: Benchmark indices Sensex and Nifty raced to fresh record highs by notching their sixth straight session of gains on Thursday as participants cheered improving macroeconomic data and positive global cues. Going past the 61,000-mark for the first time ever, the BSE Sensex soared 568.90 points or 0.94 per cent to finish at a new closing peak of 61,305.95. The index also marked its fresh intraday record of 61,353.25 during the day's trade. Similarly, the NSE Nifty surged 176.80 points or 0.97 per cent to a new lifetime closing high of 18,338.55. Intraday, the gauge touched a new record of 18,350.25 before easing some gains towards the fag-end of the session.
On the Sensex chart, ITC was the top gainer with around 3 per cent rise, followed by HDFC Bank, PowerGrid, ICICI Bank, IndusInd Bank and NTPC. On the other hand, TCS, HCL Tech, Bajaj Finance, Asian Paints and Bharti Airtel were among the laggards. Of the Sensex constituents, 22 closed with gains and 8 ended with losses.
In the past six trading sessions, the Sensex has added over 2,116 points or 3.57 per cent, and the Nifty has gathered more than 692 points or 3.92 per cent. On a weekly basis, the Sensex rallied 1,246.89 points or 2.07 per cent, and the Nifty soared 443.35 points or 2.47 per cent. Market will remain closed on Friday for Dussehra.
Sectorally, BSE bankex, finance, metal, realty, capital goods and basic materials rose up to 1.67 per cent, while auto index ended in the red. Broader midcap and smallcap indices rose up to 0.54 per cent.
Vinod Nair, head (research) at Geojit Financial Services, said: "The Indian market sustained its upbeat mood supported by positive global market, favourable inflation data and upmove in IT stocks following strong earning scorecards by sector majors. Banking stocks also contributed to the rally and remained in focus as the sector is set to kickstart its earnings season."