Nifty hits all-time high after reclaiming 22,400 levels, Sensex nears 77,000 mark.
Frontline benchmark indices reached record highs on Wednesday, with most sectoral indices showing gains except FMCG. The NSE Nifty 50 and BSE Sensex saw significant increases.
Frontline benchmark indices surged to record highs in the initial hours on Wednesday, with all sectoral indices except FMCG showing gains. The NSE Nifty 50 reached an all-time high of 22,420.35, surpassing the previous high of 23,411.9. Similarly, the BSE Sensex rose nearly 500 points, or 0.60 percent, to 76,900, just 100 points short of a new high.
Among Nifty 50 companies, major gainers included HCL Technologies, Tech Mahindra, Wipro, Power Grid, Tata Motors, Tata Steel, Tata Consultancy Services, and Reliance Industries. On the other hand, Titan, Asian Paints, IndusInd Bank, and Hindustan Unilever were among the laggards. In Asian markets, Seoul traded positively while Tokyo, Shanghai, and Hong Kong were down.
US markets closed mostly higher on Tuesday.
“The 32 percent decline in India VIX over the last 5 days suggests that the period of heightened volatility is over and the market has entered a consolidation phase. Going forward, the focus will be on fundamentals and news flows,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. He added that tonight’s US inflation numbers and the Fed policy outcome will influence the direction of the global equity market.
Global oil benchmark Brent crude climbed 0.42 percent to USD 82.26 a barrel. According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 111.04 crore on Tuesday. The BSE benchmark declined 33.49 points or 0.04 percent to settle at 76,456.59 on Tuesday. In a volatile trade, the Nifty ended slightly up by 5.65 points or 0.02 percent at 23,264.85.
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