Sensex, Nifty Hit Fresh Record High Levels Driven by Blue-Chip Stocks HDFC Bank, ICICI Bank and Foreign Fund Inflows
Benchmark equity indices Sensex and Nifty hit their fresh record high levels during the morning trade on Wednesday, driven by buying in blue-chip stocks HDFC Bank and ICICI Bank and fresh foreign fund inflows.
Mumbai, September 18: Benchmark equity indices Sensex and Nifty hit their fresh record high levels during the morning trade on Wednesday, driven by buying in blue-chip stocks HDFC Bank and ICICI Bank and fresh foreign fund inflows.
Recovering all the early lost ground, the 30-share BSE Sensex climbed 230.66 points to scale a new all-time peak of 83,310.32 during the morning trade. The NSE Nifty also advanced 60.05 points to hit a fresh lifetime high of 25,478.60. From the 30 Sensex firms, Bajaj Finance, Larsen & Toubro, HDFC Bank, Mahindra & Mahindra, Bajaj Finserv, Nestle, ITC and ICICI Bank were the biggest gainers. Stock Market Today: Indian Market Opens Flat, Cautious Ahead of Fed Rate Cut Decision Tonight; Nifty 50 Drops 16.15 Points, Sensex Down by 42.53 Points.
Tech Mahindra, Infosys, Tata Consultancy Services and HCL Technologies were among the laggards. In Asian markets, Tokyo and Shanghai traded higher. The US markets ended on a mixed note on Tuesday. "The significance of the Fed rate decision expected tonight is evident from the wait and watch market mood across the globe yesterday. Perhaps more important than the Fed action would be the Fed commentary and the message," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Indian Stock Market Today: Nifty, Sensex Near All Time High on Expectations of Fed Rate Cut.
Foreign Institutional Investors (FIIs) turned buyers on Tuesday as they bought equities worth Rs 482.69 crore, according to exchange data. Global oil benchmark Brent crude declined 0.71 per cent to USD 73.18 a barrel. Extending its record-setting spree for the second day on Tuesday, the BSE benchmark climbed 90.88 points or 0.11 per cent to settle at a lifetime high of 83,079.66. The Nifty went up by 34.80 points or 0.14 per cent to settle at an all-time peak of 25,418.55.
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