Market on a roll: Indices capture new peaks; log 5th straight gains


MUMBAI: equity indicators sensex and Nifty on Wednesday rose to new all-time highs, extending their winning streak to the fifth straight session as investors continued to gain auto, energy and infrastructure stocks.
After climbing a lifetime intraday high of 60,836.63 during the session, the 30-share sensex settled at 452.74 points or 0.75 percent higher at 60,737.05, its all-time closing high.
Similarly, the Nifty rose 169.80 points or 0.94 percent to a new closing peak of 18.161.75. It also hit an intraday record of 18,197.80.
M&M was the main winner in the sensex package, with a zoom of more than 5 percent, followed by PowerGrid, ITC, L&T, Tech Mahindra, Tata Steel and Titan.
On the other hand, Maruti Suzuki, HUL, Nestlé India, Axis Bank and SBI were among the laggards.
Sectorally, EEB’s automotive, utilities, momentum, industrial and energy indices rose as much as 3.46 percent, while the real estate index finished in the red.
The broader mid-cap and small-cap indices rose to 1.56 percent.
“Tata Motors-led auto stocks propelled Nifty to new highs of 18200 with good support from infrastructure and metals stocks in launch of Master Plan for Multimodal Infrastructure Development and Connectivity,” S Ranganathan, Head of Research of LKP Securities, he said.
As the street waits today for gains from the big names in IT, Tata Group’s stock took center stage despite profit-taking in afternoon trading, he added.
The sustained rally in finance and Reliance Industries supported broader indices. Tata Group shares were in the spotlight, especially Tata Motors after the company announced a $ 1 billion investment from TPG in the electric vehicle division that values ​​the electric vehicle business at $ 9.1 billion.
In the rest of Asia, the Shanghai and Seoul stock markets finished with gains, while Tokyo was in the red.
Stock exchanges in Europe were also trading on a positive note in mid-session deals.
Meanwhile, Brent crude oil’s international benchmark fell 0.54 percent to $ 82.97 a barrel.
On the forex market front, the rupee finished 15 paise higher at 75.37 against the US dollar.

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