India's benchmark indices, Sensex and Nifty, soared to fresh all-time highs on Thursday, driven by strong buying in auto stocks and a sharp rally in Asian markets.
The BSE Sensex surged 666.25 points, or 0.78%, to close at a record 85,836.12. During the session, it touched an all-time intraday high of 85,930.43, gaining 760.56 points, or 0.89%. The index is now just 69.57 points shy of the 86,000 mark.
Meanwhile, the NSE Nifty rose for the sixth consecutive session, climbing 211.90 points, or 0.81%, to settle at a new record of 26,216.05. Earlier in the day, it reached an intraday peak of 26,250.90, up 246.75 points, or 0.94%.
Among the 30 Sensex companies, Maruti led the gains with a nearly 5% rise. Other major gainers included Tata Motors, Bajaj Finserv, Mahindra & Mahindra, Tata Steel, JSW Steel, UltraTech Cement, Bajaj Finance, and Nestlé. However, Larsen & Toubro and NTPC were the day's laggards.
Asian markets also had a strong day, with key exchanges in Seoul, Tokyo, Shanghai, and Hong Kong posting substantial gains. European markets were trading in positive territory, while US markets closed mostly lower on Wednesday.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth ₹973.94 crore on Wednesday, while Domestic Institutional Investors (DIIs) purchased equities worth ₹1,778.99 crore.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented that the market is unlikely to experience significant volatility in the near term. He noted that FIIs may shift some funds to China and Hong Kong due to attractive valuations in those markets, but added that ample domestic liquidity should absorb any FII selling.
Global oil benchmark Brent crude fell 1.80% to $72.14 a barrel.
On Wednesday, the Sensex rose 255.83 points, or 0.30%, to close at 85,169.87, while the Nifty added 63.75 points, or 0.25%, to finish at 26,004.15.
Follow us
