Updated: June 3, 2021 4:42:14 pm
The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended at their record closing highs on Thursday led by a gain in the share prices of HDFC Bank, Larsen & Toubro (L&T) and Titan Company.
The S&P BSE Sensex climbed 382.95 points (0.70 per cent) to settle at a lifetime high of 52,232.43, while the Nifty 50 gained 114.15 points (0.73 per cent) to end at its record high of 15,690.35.
Among stocks, Titan Company was the top gainer on the BSE benchmark on Thursday. It was followed by Oil and Natural Gas Corporation (ONGC), L&T, Axis Bank, Kotak Mahindra Bank, Bajaj Finance and HDFC Bank. On contrary, IndusInd Bank was the top loser of the day followed by Power Grid Corporation, Bajaj Auto, Mahindra & Mahindra (M&M) and Dr. Reddy’s Laboratories.
Among sectoral indices, the Nifty Realty index on NSE was the top performer of the day surging 3.79 per cent led by a rise in Oberoi Realty, The Phoenix Mills, Prestige Estates Projects and Indiabulls Real Estate. Apart from this, the key Bank Nifty rose 0.78 per cent led by Axis Bank, Kotak Mahindra Bank and Bandhan Bank.
In the broader market, the S&P BSE MidCap ended at 22,370.45, registering a gain of 229.79 points (1.04 per cent), while the S&P BSE SmallCap settled at 24,075.06, up 248.94 points (1.04 per cent). The volatility index or India VIX slipped 8.51 per cent to 15.7450.
“Nifty once again closed at a fresh record high on June 03 after opening with a gap-up. Sectoral rotation is back in focus. On Friday, week end considerations could result in some profit taking at these or higher levels. Outcome of RBI’s credit policy meet can impact banking and other sectors though expectations are subdued therefrom. Advance decline ratio continues to be very positive. 15,771-15,598 could be the band for the Nifty in the near term,” Deepak Jasani, Head of Retail Research at HDFC Securities, said in a post market comment.
World stocks clung close to record highs on Thursday as investors weighed inflation concerns ahead of key US economic data, while oil prices rose for a third straight session.
Market sentiment was cagey as investors backed away from big bets before the release on Friday of US jobs data, which should offer further clarity on whether the faster-than-expected pace of economic recovery can be sustained and what that might mean for monetary policy.
In Europe, the broad Euro STOXX index was 0.2 per cent down, drifting away from record highs scaled on Tuesday, with Britain’s FTSE 100 slipping 0.7 per cent, while Germany’s DAX and the French CAC 40 were both down 0.2 per cent.
There was a similar pullback in Asia, with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.2 per cent after reaching three-month highs on Wednesday. In Japan, the Nikkei share average rose 0.4 per cent, while Australian shares climbed to all-time highs as investors cheered stronger-than-expected economic growth data released on Wednesday.
The MSCI world equity index, which tracks shares in 49 countries, hovered in and out of positive territory, below Tuesday’s record high. US futures pointed to a dip on Wall Street at the open.
–global market input from Reuters
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