Indian Market Makes History As Sensex Crosses 65,000 Mark; Nifty Over 19,300

MUMBAI: The BSE Sensex went up by 451 points to hit an all-time high of 65,169, crossing the 65,000 limit for the first time ever, while the broader NSE Nifty moved up by 129 points to trade at a lifetime peak of 19,318.

In early deals on Monday, both the Indian equity benchmarks BSE Sensex and NSE Nifty traded at higher levels to touch their all-time highest peaks.

The rally by the domestic indices was led by gains in metals, banks, financials, automobile, consumer durables and energy. Mid and small-cap shares made positive gains as Nifty Midcap 100 rose 0.42 per cent and small-cap surged 1.11 per cent.

Asian equities edged up to higher levels today on the global front, even as Wall Street equities rose on Friday.

In the domestic market, foreign institutional investors (FIIs) invested heavily, having bought Rs 6,397 crore worth of Indian equities on a net basis during the previous session, while domestic investors bought up Rs 1,198 crore of shares, provisional NSE data revealed.

The US economy displayed surprising and unexpected strength, driving up the ongoing rally in global stock markets, said an investment strategist. The main point of distinction was that the US rally was primarily led by 8 tech stocks while the Indian rally was more broad based. The main driver of the rally in India was considered the sustained FPI flows.

According to data compiled by NSE, 14 out of the 15 sector gauges were trading in the green. Nifty sub-indexes like Metal, Bank, Financial Services, Auto, Consumer Durables and Oil & Gas were performing overwhelmingly on the NSE platform, rising as much as 1.20 per cent, 0.66 per cent, 0.81 per cent, 0.79 per cent, 0.68 per cent and 0.55 per cent, respectively.

JSW Steel was the top gainer on the stock-specific front in the Nifty pack, as the stock gained 2.79 per cent to trade at Rs 806.70.

HDFC and HDFC Bank, Eicher Motors and Grasim Industries Mahindra went up by 2.40 per cent.

On the other hand, among the top laggards were PowerGrid, Maruti, Sun Pharma, UPL and Tech Mahindra.

2,121 shares were advancing with the overall market breadth being positive while 873 shares were declining on BSE.

HDFC duo, Reliance Industries, ICICI Bank, SBI, Infosys, M&M and UltraTech Cement were among the top gainers on the 30-share BSE index.

Moreover, share prices of Suzlon Energy, Mazagon Dock Shipbuilders, HLE Glasscoat HFCL and Sterlite Tech surged up by 10 per cent, while UTI AMC, Tamilnad Mercantile Bank, Saregama and Godrej Consumer Products were down 2.43 per cent.

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