Today, equity indices hiked at an all-time high, with the benchmark BSE Sensex surpassing the physiological mark of 55,000 directed by the profit gained in banking and financial stocks. The 30-share Sensex pack reached 214 points or 0.39 per cent to 55,058 in past trade; whereas the extensive NSE Nifty scores travelled to 66 points or 0.41 per cent higher to 16,431.
At 12:15 pm, Sensex went up to 55,272, that is 428 points or 0.78 per cent, whereas Nifty reached the mark of 16,488, a significant boost of 124 points or 0.76 per cent.
The most prominent gainers in the BSE index were: HDFC, M&M, ICICI Bank, L&T, HDFC Bank and TCS with their growing stock at 1.21 per cent.
On the NSE platform, sub-indices of Nifty Financial Services and Nifty bank went over 0.59 per cent.
The sentiments of investors got an impulse as the country’s retail inflation got eased on improved supplies and government-guaranteed support to tackle the economic exigencies caused by the unprecedented crisis.
Consumer prices witnessed a sudden decline of 5.59 per cent last month compared to June’s 6.26 per cent annual inflation rate.
The Union Finance Minister Nirmala Sitharaman averred the industrialists this Thursday that the economy had not so far reached the level that could enable financial liquidity support to them and which could be easily withdrawn by the central bank when required. Sensex and Nifty touched skies on Thursday as investors ramped up market condition by adopting power, IT and banking stocks.
Foreign institutional investors (FIIs) were observed to be the net sellers in the capital market as they offloaded shares of around Rs 212.11 crore, according to the provisional exchange data established on Thursday.
“Bulls are showing no signs of fatigue as Nifty raced to another record … Global support to the rally is intact with the Dow and S&P setting yet another record high,” asserted VK Vijayakumar, chief investment strategist at Geojit Financial Services to the news agency PTI.
Retail investors relentlessly chasing stocks and the sheer momentum in the market has taken the Nifty to 16,500 levels, he said, adding that the rally is likely to be led by the leading high-quality private banks and leading IT names.
US equities extended gains with Dow and S&P 500 closing at record highs. A consistent improvement in key economic data lifted sentiments and defied higher inflation, experts averred.