Sensex hits record high, Nifty jumps 216 points amid firm global equities
The Hindu
Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong ended in the green, while Shanghai settled lower
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on November 24, tracking a firm trend in global markets after the U.S. Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment.
Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24% to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46% to its lifetime high of 62,412.33.
The broader NSE Nifty gained 216.85 points or 1.19% to end at 18,484.10. During the day, it hit its 52-week high of 18,529.70, higher by 262.45 points or 1.43%.
"Two triggers assisted the Sensex rally to record highs. One, in the mother market U.S., the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery.
"Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large-caps, mainly the HDFC twins, Infosys, TCS and RIL," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Power Grid, Tech Mahindra, Tata Consultancy Services, Hindustan Unilever, HDFC, HDFC Bank and Mahindra & Mahindra were among the major winners.
Bajaj Finserv, Tata Steel, Bajaj Finance and Kotak Mahindra Bank were the laggards.
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