Sensex scales mount 83K, Nifty at lifetime high on rally in blue-chip stocks

Sensex hits historic 83,000 level, Nifty at lifetime high after rally in blue-chip shares, global markets surge.

Benchmark Sensex hit the historic 83,000 level for the first time on Thursday (September 12, 2024) and the Nifty settled at a lifetime high after a rally in blue-chip shares, surge in global markets, and foreign fund inflows.

A sharp fag-end rally drove the 30-share Bombay Stock Exchange (BSE) Sensex to the 83,000 level for the first time. The barometer surged 1,593.03 points, or 1.95%, to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade. The index closed at a record high of 82,962.71, up by 1,439.55 points, or 1.77%.

The NSE Nifty surged 470.45 points, or 1.89%, to settle at a record closing high of 25,388.90. The benchmark hit its fresh all-time intra-day high of 25,433.35, a jump of 514.9 points or 2%. Nifty and Sensex opened higher and traded in a range till late afternoon trade.

Among the 30 Sensex firms, Bharti Airtel, NTPC, JSW Steel, Mahindra & Mahindra, Adani Ports, Tech Mahindra, Larsen & Toubro, Tata Steel, State Bank of India, and Kotak Mahindra Bank were the biggest gainers.

Nestle emerged as the only laggard from the blue-chip pack.

“While the session remained subdued for the most part, strong buying in heavyweight stocks across sectors propelled the indices sharply upward in the final hours,” said Ajit Mishra, SVP, Research, Religare Broking Limited.

In Asian markets, Seoul, Tokyo and Hong Kong settled with significant gains, while Shanghai ended marginally lower.