Sensex Rallies Nearly 700 Points, Nifty Closes Above 14,300 For First Time

The S&P BSE Sensex rallied over 750 points and Nifty 50 index climbed above 14,350 as markets broke record highs for tenth session on Friday on the back of a broad-based buying interest. The Sensex surged as much as 761 points to hit an all-time high of 48,854.34 and Nifty 50 index surpassed 14,350 for the first time. Infosys, Tata Consultancy Services, Reliance Industries, HDFC Bank, Maruti Suzuki, Larsen & Toubro and Tech Mahindra and HCL Technologies were among the top movers in the Sensex.

  1. The Sensex climbed 689 points or 1.43 per cent to close at record high of 48,782 and Nifty 50 index surged 210 points to settle at record 14,347.
  2. Sustained buying by foreign institutional investors (FIIs) is helping benchmarks surge to new highs. The FIIs bought shares worth ₹ 382 crore on Thursday (January 7) after they bought shares worth $23 billion in calendar year 2020.
  3. Infosys, Tata Consultancy Services, Reliance Industries, HDFC Bank, Maruti Suzuki, Larsen & Toubro and Tech Mahindra were among the top movers in the Sensex.
  4. Nine of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty IT index’s 3.6 per cent gain ahead of index bellwether Tata Consultancy Services’ earnings announcement.
  5. Nifty Auto, Media, Pharma and Realty indexes also rose between 1.4-3 per cent.
  6. On the other hand, Nifty PSU Bank and Nifty Metal indexes ended lower.
  7. Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 index rose 1 per cent and Nifty Smallcap 100 index rose 0.6 per cent.
  8. Maruti Suzuki was top Nifty gainer, the stock rose 5.8 per cent to close at ₹ 8,004. Maruti, Tech Mahindra, Wipro, UPL, Infosys, Eicher Motors, UltraTech Cement, Power Grid, Hero MotoCorp and NTPC were also among the gainers.
  9. On the flipside, Hindalco, IndusInd Bank, Tata Steel, Bharti Airtel, GAIL India, JSW Steel and State Bank of India were among the losers.
  10. The overall market breadth was positive as 1,763 shares ended higher while 1,352 closed lower on the BSE.

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