Sensex exceeds 400 points to reach a new record; Nifty Trading Nearly 18,300


The 30-stock BSE pack hit an all-time high of 61,216 in intraday trading.

New Delhi: Stock indices hit record highs on Thursday and are on course to end the shortened holiday week by around 2% higher, fueled by gains in tech stocks following bullish results from major companies Infosys and Wipro.

The broader NSE Nifty index rose 0.68% or 123 points to 18,285, while the benchmark BSE Sensex rose 0.66% or 403 points to 61,140 in late trades. Indian markets will be closed on Friday. The 30-stock BSE pack hit an all-time high of 61,216 in intraday trading.

Both indexes hit record highs on Wednesday and posted gains this week, aided by factors such as the Reserve Bank of India (RBI) ensuring sufficient liquidity, dampening inflation and news around a emergency sign for a Covid-19 vaccine for children.

ALSO READ  Sensex exceeds 500 points to reach a new historical record; Nifty Trading above 18,500

The main winners of the BSE pack included ITC, HDFC Bank, PowerGrid, Larsen and Toubro, SBI and ICICI Bank with shares up 3.53%.

Computer, metal and real estate stocks generated gains, with the Nifty IT index rising 1.62%.

“Indian stock indexes driven by metals, IT and real estate indexes rose by up to 2%, while PSU indices of banks, infra and capital goods rose to 1%. %. The mid and small cap BSE indices also trade green. Our research suggests that 59,800 to 61,000 will be a significant level of support in the market. If the market holds above 61,000. We can expect the market to trade in a range of 61,000 to 61,300. Technical indicators also support market positivity, ”Likhita Chepa said. principal researcher, analyst, Capitalvia Global Research Ltd.

ALSO READ  Ceat shares fall after falling profits in September quarter

Infosys, rose 4.4% in early trades to a nearly three-week high after forecasting revenue to grow between 16.5% and 17.5% in the fiscal year through March 2022 The stock is currently trading 0.33% higher in late trades.

Wipro hit an all-time high and was the first winner of the Nifty 50 Index after a nearly 19% increase in quarterly consolidated net profit.

ALSO READ  US Treasury Department alerts crypto industry to increase in ransomware attacks

A rally in auto stocks eased after five sessions, with Nifty Auto slipping 0.47%. Tata Motors, which had had an exhilarating rally in recent sessions, lost 1.36%. Still, for the week, the automaker is up about 31%.

Meanwhile, total domestic passenger vehicle sales in India fell 41.2% in September from a year ago, according to data from an auto industry body, as the crisis in semi -Drivers and high commodity prices have exacerbated the problems of automakers.

The total number of domestic passenger vehicles fell by 160,070 units from 272,027 units a year ago, the Society of Indian Automobile Manufacturers (SIAM) said.