Benchmarks climb to new lifetime highs; RIL, IT stocks lead charge
Equity indices ticked higher to fresh lifetime peaks for the third straight session on Monday, riding on robust gains in Reliance Industries and IT stocks amid a firm trend overseas.
Posted on Sep 06, 2021 | Author PTI
Equity indices ticked higher to fresh lifetime peaks for the third straight session on Monday, riding on robust gains in Reliance Industries and IT stocks amid a firm trend overseas.
The 30-share BSE Sensex advanced 166.96 points or 0.29 per cent to its new closing record of 58,296.91. It touched an all-time high of 58,515.85 during the session.
Similarly, the broader NSE Nifty climbed 54.20 points or 0.31 per cent to its fresh lifetime peak of 17,377.80. During the session, it touched a record 17,429.55.
HCL Tech was the top gainer in the Sensex pack, spurting 2.17 per cent, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto, M&M and HUL.
On the other hand, IndusInd Bank, Kotak Bank, Power Grid, Sun Pharma, Asian Paints, Titan and ITC were among the laggards, skidding up to 1.13 per cent.
The market breadth was negative, with 17 out of the 30 Sensex stocks closing in the red, while the remaining 13 mustered gains.
"Positive global markets and strong support from IT and realty stocks, aided domestic markets to trade modestly higher. Hopes of continued economic support by the Fed Reserve due to weak US job data and talks of more stimulus in Japan and China boosted global markets.
"Economic normalisation attracted buyers in realty stocks while safe haven IT stocks continued to lead the upbeat market," said Vinod Nair, Head of Research at Geojit Financial Services.