sensex: Sensex zooms 569 points to fresh record; Nifty tops 18,300-mark


MUMBAI: Extending Winning Streak to 6th Session in a Row, Stock Benchmark Sensex rallied 569 points to close at a new peak on Thursday, driven by gains in the twin HDFC major indices, ICICI Bank and ITC amid positive macroeconomic signals and optimistic global markets.
Closing above the 61,000 mark for the first time, the 30-share Sensex closed 568.90 points or 0.94 percent higher at 61,305.95. Similarly, the Skilled increased 176.80 points or 0.97 percent to a new end-of-life maximum of 18,338.55.
ITC was the main winner in the Sensex package, with an increase of around 3 percent, followed by HDFC Bank, PowerGrid, ICICI Bank, IndusInd Bank and NTPC.
On the other hand, TCS, HCL Tech, Bajaj Finance and Asian Paints were among the laggards.
“The Indian market maintained its optimistic mood supported by a positive global market, favorable inflation data and a move higher in TI stocks after strong earnings dashboards by major sectors,” Vinod Nair, Head of Research at Geojit Financial Services, said.
Inflation based on wholesale prices fell to 10.66 percent in September, helped by the moderation in food prices, even as crude oil rebounded.
Retail inflation in September also slowed to a five-month low of 4.4 percent due to moderation in food prices.
“Bank stocks also contributed to the rally and remained in focus as the sector is ready to start its earnings season,” Nair added.
In the rest of Asia, the Seoul and Tokyo stock exchanges finished with strong gains, while Shanghai was in the red.
Stock exchanges in Europe were trading on a positive note in the mid-session agreements.
Meanwhile, Brent crude oil’s international benchmark rose 1.02 percent to $ 84.03 a barrel.

Source link


Please enter your comment!
Please enter your name here