 "Indian stock market at record high; Sensex hits 64,000-mark, Nifty surpasses 19,000 points")
Sensex and Nifty hit their record high levels on Wednesday amid a rally in the US and European markets as well as inflows of fresh foreign funds.
The 30-share BSE Sensex touched the record 64,000 mark, while Nifty scaled the 19,000 mount.
Extending its previous day’s rally, Sensex jumped 621.07 points to hit its all-time high of 64,037.10 during afternoon trade. The NSE Nifty leaped 193.85 points to reach its lifetime peak of 19,011.25.
At 02:57 pm IST, Sensex was up 1.58 per cent or 992.88 points at 63,962.88, while Nifty was trading at 18,979.40, up 288.20 points of 1.54 per cent from the previous close.
What pushed Indian equity market to record high?
Sensex and Nifty created a record-high on Wednesday due to firm global market and inflows of fresh foreign funds.
“After making several attempts in the past few days, Nifty finally managed to cross its previous highs. Strong institutional flows, healthy macros and robust earnings growth drove domestic market towards its new highs,” PTI quoted Siddhartha Khemka, Head of Retail Research, Broking and Distribution, MOFSL, as saying.
“Improving US economic data and hints from China about fresh stimulus measures have helped improve (investors’) sentiments,” Dhiraj Relli, MD & CEO, HDFC Securities Ltd said.
Buying in market heavyweight stocks including Reliance Industries and HDFC Bank also aided the positive momentum.
NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers in the Sensex pack.
In Asian markets, Tokyo and Hong Kong quoted in the green. European markets in trading in the positive territory. The US markets ended significantly higher on Tuesday.
Global oil benchmark Brent crude also climbed 0.08 per cent to USD 72.32 a barrel.
As per the exchange data, foreign institutional investors (FIIs) bought equities worth Rs 2,024.05 crore on Tuesday.
With inputs from PTI
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Umang Sharma is a media professional with over 12 years of experience. Crafting compelling content and using storytelling techniques are his strengths. His interest lies in national, global, political news and events.