Sensex and Nifty Hit Record Highs Amid Global Market Optimism and IT Stock Surge

The Sensex and Nifty, which are benchmark equity indices, reached new all-time high levels in early trading on Tuesday. This was due to positive trends in global markets, increased investment in IT stocks, and a fresh influx of foreign funds. The 30-share BSE Sensex rose by 334.03 points to achieve a new lifetime peak of 77,326.80, marking its fourth consecutive session of gains. Similarly, the NSE Nifty increased by 108.25 points, reaching a new all-time high of 23,573.85. Several companies contributed to the Sensex’s gains, including Wipro, Titan, Mahindra & Mahindra, Tech Mahindra, Infosys, Bharti Airtel, and Hindustan Unilever. Conversely, Maruti, Kotak Mahindra Bank, HDFC Bank, and ICICI Bank experienced slower growth. In Asian markets, Seoul, Tokyo, and Shanghai were trading positively, while Hong Kong saw some decline. Meanwhile, US markets closed at higher levels on Monday. Foreign Institutional Investors (FIIs) purchased equities amounting to Rs 2,175.86 crore on Friday, as per exchange data. Additionally, the global oil benchmark, Brent crude, experienced a 0.15% decrease, settling at USD 84.12 per barrel. It’s worth noting that equity markets were closed on Monday due to Eid-ul-Adha. On Friday, the BSE benchmark gained 181.87 points or 0.24%, reaching a record closing high of 76,992.77. Similarly, the Nifty surged 66.70 points or 0.29% to achieve a new record closing high of 23,465.60.