Bull run in the Indian stock market: Sensex above 75,000, Nifty at 22,760
While majority of shares continued their record-breaking rally on Tuesday, with the BSE Sensex breaching the historic 75,000-mark for the first time ever in early trade and the Nifty climbing to its fresh new record peak. The 30-share BSE Sensex climbed 381.78 points to reach its all-time peak of 75,124.28. The NSE Nifty advanced 99 points to hit its record peak of 22,765.30. Buying in IT stocks contributed the most to the market’s rally in early trade.
The BSE benchmark jumped 494.28 points or 0.67 percent to settle at a new closing peak of 74,742.50 on Monday. The NSE Nifty climbed 152.60 points or 0.68 percent to 22,666.30. As usual, major gainers were Infosys, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Tata Motors, Wipro, ICICI Bank and Nestle. JSW Steel, Kotak Mahindra Bank, Reliance Industries, and Larsen & Toubro were among the laggards.
In Asian markets, Tokyo and Hong Kong were trading in the positive territory while Seoul and Shanghai quoted lower. Wall Street ended on a mixed note on Monday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs.684.68 crore on Monday, according to exchange data.
Global oil benchmark Brent crude climbed 0.19 percent to USD 90.55 a barrel. “The new records set by the market yesterday confirm the bullish market undertone. A healthy and desirable trend in the market movement yesterday was the outperformance of the large-caps. This trend is likely to continue,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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