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Thursday, July 29, 2021

Indices settle at record highs; Sensex surges 255 points, Nifty ends above 15,900-mark for the first time

The S&P BSE Sensex gained 254.80 points (0.48 per cent) to settle at a record closing high of 53,158.85, while the Nifty 50 rose 70.25 points (0.44 per cent) to a end at a record close of 15,924.20.

By: Express Web Desk | New Delhi |
Updated: July 15, 2021 4:39:33 pm
Bombay Stock Exchange building. (Express archive photo)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) rose nearly 0.5 per cent and ended at their record highs on Thursday taking cues from their global peers.

The S&P BSE Sensex gained 254.80 points (0.48 per cent) to settle at a record closing high of 53,158.85, while the Nifty 50 rose 70.25 points (0.44 per cent) to a end at a record close of 15,924.20.

Earlier in the day, the Sensex and Nifty had opened nearly 0.2 per cent higher extended gains to scale their respective record intraday highs. The BSE benchmark touched 53,266.12 while the NSE barometer reached 15,952.35.

Gains on the Sensex were led by HCL Technologies, Larsen & Toubro (L&T), tech Mahindra, HDFC Bank, Ultratech Cement and ITC. On the other hand, Bharti Airtel, Mahindra & Mahindra (M&M), Asian Paints and Titan Company were among the top laggards.

Among the sectoral indices, the Nifty IT index index climbed 1.29 per cent led by gains in HCL Tech, Larsen & Toubro Infotech, Wipro and Tech Mahindra. The Bank Nifty too rose 0.67 per cent on Thursday led by AU Small Finance Bank and HDFC Bank. The Nifty Realty index surged 4.20 per cent aided by Sobha, Indiabulls Real Estate, Brigade Enterprises and Prestige Estates Projects.

In the broader market, the S&P BSE MidCap index ended at 23,026.64, up 71.79 points (0.31 per cent) while the S&P BSE SmallCap settled at 26,362.80, up 111.61 points (0.43 per cent).

“Indian indices extended its gains to all-time high supported by positive Asian market and rally in Reality, IT, Financials and Metals stocks, in anticipation of robust Q1 earnings & recovery in demand. Asian markets were positive as China reported better than forecasted economic data and the global market was boosted by the accommodative stance in the Fed official’s statement, reducing risk of change in rates,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global market

Asian shares advanced on Thursday as dovish comments by the US Federal Reserve chief and fresh liquidity from China’s central bank propped up investor appetite, even as inflationary and growth risks hung over the outlook.

Separately, data from China showed its economic recovery losing steam, with second quarter growth slowing and missing expectations.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8 per cent, with Hong Kong’s Hang Seng leading with 1.3 per cent gains, recovering from this month’s earlier falls, which were driven by tech firms. Mainland Chinese shares rose, with CSI300 index up 0.7 per cent. Japan’s Nikkei bucked the trend, with Nikkei falling 1.2 per cent, hurt by worries about rising domestic COVID-19 infections.

-global market input from Reuters

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