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Monday, September 27, 2021

Indices scale fresh highs; Sensex surges 546 points, Nifty ends above 16,250-mark

The S&P BSE Sensex climbed 546.41 points (1.02 per cent) to end at a fresh closing high of 54,369.77, while the Nifty 50 jumped 128.05 points (0.79 per cent) to end at a new lifetime high of 16,258.80.

By: Express Web Desk | New Delhi |
Updated: August 4, 2021 4:04:12 pm
bse, bombay stock exchangeBombay Stock Exchange (BSE) in Dalal Street (Express photo by Nirmal Harindran)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their bullish momentum settled at fresh closing highs on Wednesday led by gains in banking and financial stocks.

The S&P BSE Sensex climbed 546.41 points (1.02 per cent) to end at a fresh closing high of 54,369.77, while the Nifty 50 jumped 128.05 points (0.79 per cent) to end at a new lifetime high of 16,258.80.

During the day, the Sensex breached the 54,000-mark and hit a record intraday high of 54,465.91 while the NSE benchmark rose to a fresh lifetime high of 16,290.20.

On Tuesday, Sensex had jumped 873 points to a new high of 53,823.36 and the Nifty Index soared 246 points to close at 16,130.75.

Gains in the Sensex were led by Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, ICICI Bank, HDFC Bank, State Bank of India (SBI) and Axis Bank.

Among the sectoral indices on NSE, the Nifty Financial Services index rose 2.59 per cent on Wednesday led by HDFC and Mahindra & Mahindra Financial Services, while the key Bank Nifty climbed 2.33 per cent aided by Kotak Mahindra Bank, AU Small Finance Bank, ICICI Bank and SBI.

The broader market indices however underperformed their benchmark peers. In the broader market, the S&P BSE MidCap index ended at 23,129.71, down 244.50 points (1.05 per cent), while the S&P BSE SmallCap index settled at 26,847.56, down 286.44 points (1.06 per cent). The volatility index or India VIX fell 3.89 per cent to 13.2125.

Global market

Global shares rode earnings to a record high on Wednesday, while the dollar and Treasury yields languished in the wait for US employment data to provide clues to the pace of monetary tightening in the world’s biggest economy.

The MSCI World index, a broad gauge of equity markets, was last up 0.2 per cent, tracking overnight gains in Asia, where the equivalent index, excluding Japan rose 1 per cent. Across Europe, the STOXX Europe 600 and FTSE 100 were up 0.4 per cent – 0.6 per cent, with the latter supported by strong results from housebuilder Taylor Wimpey and insurer Legal and General.

–global market input from Reuters

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