The Sensex and Nifty, key equity indices, experienced a notable surge, reaching new record highs on Thursday. This upswing was fueled by increased buying activity in IT, consumer durables, and financial sectors, driven by optimistic projections for strong corporate performance. Additionally, investors showed interest in specific banking stocks, anticipating that the RBI's monetary policy committee would maintain the current interest rates. The committee, consisting of six members, commenced discussions on Wednesday and is scheduled to reveal its decision on Friday.
The 30-share BSE Sensex surged 350.81 points or 0.47 per cent to settle at its lifetime high of 74,227.63. During the day, the index oscillated between the high of 74,501.73 and the low of 73,485.12. The broader NSE Nifty also hit its fresh peak of 22,514.65, gaining 80 points or 0.36 per cent. As many as 31 components of the 50-share benchmark ended with gains. Both indices had ended lower in the previous two sessions.
Sensex previous peak
On March 7, Sensex recorded its previous peak of 74,119.39. Nifty scaled its previous high of 22,493.55. Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers.
TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserve were the other gainers. In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading with losses. BSE LargeCap gained 0.34 per cent and smallcap rose 0.54 per cent, while the midcap index lost marginally by 0.11 per cent.
How did global markets fare?
European markets were trading in green. The US markets closed Wednesday's session on a mixed note. Meanwhile, global oil benchmark Brent crude climbed 0.36 per cent to USD 88.67 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,213.56 crore on Wednesday, according to exchange data.
(With inputs from PTI)
ALSO READ: Indian economy to grow at 7.5 per cent in 2024, projects World Bank
