Benchmark stock indices Sensex and Nifty settled at new peaks on Tuesday, rallying for the sixth straight session amid massive buying in power and utility sector shares.
The 30-share BSE Sensex jumped 431.02 points, or 0.63 per cent, to close at a new record high of 69,296.14.
Today’s Rate
Saturday 28 Sept. 2024
The broader index Nifty also climbed 168.50 points, or 0.81 per cent to hit its lifetime high of 20,855.30.
The market capitalisation of BSE-listed firms surged by more than Rs 2.5 lakh crore to cross Rs 350 lakh crore on Tuesday.
Analysts said the positive sentiment was fuelled by unabated inflow of foreign funds on the back of robust sentiment built up over favourable macroeconomic data in the previous week and the results of assembly polls of Madhya Pradesh, Rajasthan and Chhattisgarh that raised expectations of longer political stability in the country.
Also, investors are expecting the Reserve Bank to maintain the status quo on the interest rate in its bi-monthly monetary policy decision to be announced on Friday, they said.
Among major Sensex movers, Power Grid rose the most by 4.46 per cent, NTPC by 3.89 per cent, SBI by 2.31 per cent and ICICI Bank by 2.28 per cent. Other gainers included Mahindra & Mahindra, Titan and Maruti. On the other hand, Hindustan Unilever, HCL Tech, Bajaj Finance remained laggards with losses of up to 1.49 per cent.
