Sensex ends above 75k level for 1st time

Mumbai: Benchmark Sensex climbed 354 points to close above the record 75,000 mark for the first time, while broader Nifty scaled a fresh lifetime high on Wednesday on gains in FMCG, energy and metal shares. The 30-share BSE Sensex climbed 354.45 points or 0.47 per cent to settle at an all-time high of 75,038.15. During the day, the index spurted 421.44 points or 0.56 per cent to hit a high of 75,105.14. Broader Nifty of the NSE advanced by 111.05 points or 0.49 per cent to close at a record peak of 22,753.80. During the day, it jumped 132.95 points or 0.58 per cent to reach a lifetime intra-day peak of 22,775.70. Key indices hit intra-day lifetime high levels on Tuesday with Sensex scaling the historic 75,000 mark for the first time but closed in the red following profit booking in index major Reliance Industries.

“Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts. Investors’ attention remains fixated on the release of the FOMC minutes and US inflation data later on Wednesday,” Vinod Nair, head (research), Geojit Financial Services.

“The majority of sectors were aligned with the move wherein FMCG, metal and energy were among the top gainers. The broader indices also edged higher after two days of pause and gained in the range of 0.7 -0.9 per cent, Ajit Mishra, SV-P (technical research), Religare Broking Ltd.

In the broader market, the BSE midcap gauge climbed 0.89 per cent and smallcap index advanced 0.46 per cent. Among the indices, oil & gas jumped 1.74 per cent, energy by 1.71 per cent, metal by 1.66 per cent, commodities by 1.30 per cent and services by 1.15 per cent. Utilities and auto were the laggards.

As many as 1,961 stocks advanced while 1,869 declined and 103 remained unchanged. From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.

In Asian markets, Tokyo and Shanghai settled lower while Hong Kong ended in the positive territory. Markets in South Korea were closed for elections. European markets were trading in the green. Wall Street ended mostly with gains on

Tuesday.