The benchmark indices for the stock market, Sensex and Nifty, ended at their new all-time high levels on Wednesday. This surge mirrored the rally seen among Asian markets and was bolstered by significant buying activity in Reliance Industries. The 30-share BSE Sensex saw a substantial increase, climbing by 620.73 points to close at a record high of 78,674.25. Throughout the trading session, the index experienced an impressive rise, peaking at an all-time intraday high of 78,759.40 with a rally of 705.88 points.
The Nifty went up by 147.50 points to settle at a record closing peak of 23,868.80. Intra-day, it surged 168.6 points or 0.71 per cent to hit a fresh lifetime high of 23,889.90. Among the 30 Sensex companies, Reliance Industries, Bharti Airtel, UltraTech Cement, Sun Pharma, Adani Ports, Axis Bank, NTPC and Bajaj Finance were the biggest gainers.
Major gainers and laggards
Mahindra & Mahindra, Tata Steel, Tech Mahindra and JSW Steel were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with gains. European markets were trading on a mixed note. US markets ended mostly higher on Tuesday.
Global oil benchmark Brent crude climbed 0.80 per cent to USD 85.69 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,175.91 crore on Tuesday, according to exchange data. The BSE benchmark jumped 712.44 points to settle at 78,053.52 on Tuesday. The Nifty went up by 183.45 points to settle at 23,721.30.
India one of fastest-growing markets globally for Nestle
It should be mentioned here that India is one of the fastest growing markets for the Swiss global food & beverage major Nestle, where its local subsidiary has delivered a double-digit growth. The company, which owns popular brands such as Maggi, Kit Kat and Nescafe, is leveraging existing competencies and capabilities and investing in new areas of opportunity to deliver long-term value, according to Nestle India's latest annual report. Now, India has become the largest Nestle market globally for Maggi and the second-largest for the chocolate wafer brand Kit Kat.
(With inputs from PTI)
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