The benchmark indices Sensex and Nifty reached new all-time high levels in early trade on Friday due to a rally in global markets, increased buying in Reliance Industries, and fresh foreign fund inflows.
The 30-share BSE Sensex surged by 308.49 points to reach a fresh record peak of 79,551.67, while the Nifty climbed 103.75 points to hit a new lifetime high of 24,148.25.
Among the 30 Sensex companies, the biggest gainers were Sun Pharma, NTPC, Tech Mahindra, Reliance Industries, Tata Motors, Asian Paints, Tata Steel, and Nestle. On the other hand, Adani Ports, UltraTech Cement, IndusInd Bank, and Maruti were among the laggards.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned, “The market momentum has the potential to take the Sensex to 80,000 level. The healthy trend in the recent rally is that it is driven by fundamentally strong largecaps like RIL, Bharti, and leading private sector banks.”
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the green. Furthermore, the US markets ended in positive territory on Thursday.
According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 7,658.77 crore on Thursday. Additionally, the global oil benchmark Brent crude increased by 0.49 percent to reach USD 86.81 a barrel.
On Thursday, the BSE benchmark surged by 568.93 points or 0.72 percent, settling at a new closing peak of 79,243.18. Meanwhile, the Nifty ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74 percent.
