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Tuesday, September 28, 2021

Indices end at fresh highs, Sensex surges 210 points, Nifty ends above 16,600 for the first time

The S&P BSE Sensex rose 209.69 points (0.38 per cent) to end at a lifetime high of 55,792.27 while the Nifty 50 climbed 51.55 points (0.31 per cent) to settle at a new high of 16,614.60.

By: Express Web Desk | New Delhi |
Updated: August 17, 2021 4:12:26 pm
BSE in Mumbai. (Express photo by Ganesh Shirsekar)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended marginally higher and settled at their fresh highs on Tuesday following a late rally towards the end of the session.

The S&P BSE Sensex rose 209.69 points (0.38 per cent) to end at a lifetime high of 55,792.27 while the Nifty 50 climbed 51.55 points (0.31 per cent) to settle at a new high of 16,614.60.

Both the topline indices had opened on a choppy note earlier in the day and traded in a range for most of the session. Towards the end, however, the indices inched to new highs with the NSE benchmark breaching the 16,600-mark for the first time and hitting a new intraday high of 16,628.55. The 30-share BSE barometer too scaled a fresh high of 55,854.88 during the day.

Infosys, Tata Consultancy Services (TCS), Hindustan Unilever (HUL), Tech Mahindra and HCL Technologies were among the top contributors of the day on Sensex, while HDFC Bank, Reliance Industries (RIL), Larsen & Toubro (L&T) were among the top laggards.

Among sectors, the Nifty IT index gained 2.57 per cent on Tuesday led by MindTree, MphasiS and Larsen & Toubro Infotech (LTI). The Nifty FMCG too gained 1.42 per cent aided by Emami, Jubilant Foodworks and Tata Consumer Products. On the other hand, the Nifty Metal index fell 2.30 per cent weighed by Vedanta, Welspun Corp and Hindustan Zinc.

In the broader market, the S&P BSE MidCap index settled at 23,061.77, up 161.60 points (0.71 per cent), while the S&P BSE SmallCap index ended at 26,284.83, up 78.99 points (0.30 per cent). The volatility index or India VIX slipped 0.33 per cent to 13.4125.

“The rally in IT stocks kept bulls firmly in control despite a truncated week with several high-quality midcap names rallying in the expansionary phase over the last several months. Metal names though met with profit-taking in today’s trade. While worries over the deterioration in asset quality in private sector banks persist, the recent lull in the progress of the monsoon needs to be watched closely,” said S Ranganathan, Head of Research at LKP Securities.

Global market

Global shares stumbled on Tuesday, rattled by concerns over China’s regulations for its once-freewheeling internet sector and a worldwide spike in COVID-19 infections driven by the Delta variant.

In early European trade, the pan-European STOXX 600 shed 0.5 per cent, its lowest level in more than a week and its second straight session of falls after its longest winning streak in over a decade. US stock futures, the S&P 500 e-minis, were down 0.5 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.5 per cent and China’s blue-chip CSI300 index dipped 2.1 per cent.

–global market inputs from Reuters

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