Sensex jumps over 350 points to hit 61,00-mark for first time

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MUMBAI: Equity Benchmark sensex rallied more than 350 points at the opening of trading on Thursday to cross the 61,000 mark for the first time, driven by gains in the Infosys index heavyweights, HDFC Bank and Dependency industries amid a positive trend in global markets.
After hitting a record high of 61,159.48 in the opening session, the 30-share sensex was trading 356.73 points or 0.59 percent higher at 61,093.78.
Similarly, the Skilled it rose 119.75 points or 0.66 percent to a new intraday record of 18,281.50.
L&T was the main winner in the sensex package, with an increase of around 2 percent, followed by Infosys, OSE, NTPC, HDFC Bank, Maruti, ITC and Titan.
On the other hand, HCL Tech, TCS, M&M, IndusInd Bank and Bajaj Finance were among the laggards.
In the previous session, the 30-share index was 452.74 points or 0.75 percent higher at 60,737.05, taking its winning streak to the fifth day in a row, and Nifty rallied to 169.80 points or 0 , 94 percent to 18,161.75.
Foreign institutional investors (FII) were net buyers in the capital market, as they bought shares worth Rs 937.31 crore on Wednesday, according to exchange data.
“Strong results from Infosys, Wipro and Mindtree indicate that the disappointing performance of the TCS market was exceptional. Although high attrition is a challenge for the sector, the good deals struck and strong demand are clear positives, ”said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
IT is likely to resume its leadership position as the industry outlook looks bright for years to come thanks to the acceleration of the digitization of companies globally, he said, adding that the strong performance of HDFC Bank indicates good second quarter results and banking specialty. join the bull rally.
Globally, the US FOMC minutes indicate that the downsizing is ongoing, possibly starting in November and ending in mid-2022. This is a known event, therefore markets are likely to discount it. before the actual announcement, he noted.
“With no known triggers for a sharp correction in the near term and market momentum remains strong, exuberant retail investors are likely to drive markets further, although seasoned investors are concerned about overvaluations,” he added . .
In the rest of Asia, the Shanghai, Seoul and Tokyo stock exchanges were trading strong gains in mid-session deals.
Wall Street stocks also finished on a positive note in the evening session.





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