In early trade on Thursday, the Sensex and Nifty indices reached all-time highs, driven by strong global market trends, increased purchases of blue-chip stocks, and robust foreign institutional investor (FII) inflows. The 30-share BSE Sensex surged 388.84 points to hit a record high of 80,375.64, while the Nifty rose 114.45 points to reach a lifetime peak of 24,400.95. Notable gainers among the Sensex stocks included Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies, and Tata Consultancy Services. On the other hand, HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards. FIIs bought equities worth Rs 5,483.63 crore on Wednesday, driven by significant delivery-based buying in banking stocks, particularly HDFC Bank. This trend is expected to continue for a few more days, providing strength to the market. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the change in market sentiment among FIIs, with a shift from large short contracts in early June to 3.78 lakh long contracts, is a positive sign. Additionally, the decline in the US 10-year bond yield to 4.35 per cent and the drop in the dollar index to 105.29 are factors contributing to fund inflows. Market focus is anticipated to shift to first-quarter results, which will begin next week. In Asian markets, Tokyo and Seoul were trading positively, while Shanghai and Hong Kong were quoting lower. In the US, markets closed higher on Wednesday due to the shortened trading session as Thursday was observed as Independence Day. The global oil benchmark, Brent crude, fell by 0.60 per cent to USD 86.82 a barrel. On Wednesday, the Sensex hit the historic 80,000 mark for the first time in intraday trading, closing near the 80,000 level at 79,986.80, after surging 632.85 points or 0.79 per cent to a record intraday high of 80,074.30.
Sensex and Nifty Hit Record Highs Amid Strong Global Trends and FII Inflows
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