Sensex hits record high of 66,000 amid global rally and US CPI data; Infosys, ICICI Bank lead gains
Benchmark stock indices hit all-time highs in intraday trading on Thursday, with the Sensex breaching the historic 66,000 mark for the first time after a rally in global markets amid moderate US CPI inflation data.
Buying into market heavyweights Infosys, ICICI Bank and Tata Consultancy Services also helped stabilize the markets in positive territory.
BSE Sensex, which includes 30 shares, jumped 670.31 points, or 1.02 percent, to reach an all-time high for the day at 66,064.21 points. The measure settled up 164.99 points, or 0.25 percent, at 65,558.89 points.
The NSE Nifty Index rose by 29.45 points, or 0.15 percent, to close at 19,413.75 points. On the day, it rose 182.7 points, or 0.94 percent, to reach a lifetime high of 19,567 points.
From Sensex Group, Tata Consultancy Services, Infosys, Bajaj Finserv, Tech Mahindra, ICICI Bank, Axis Bank, Wipro and Bajaj Finance were among the main gainers.
TCS stock rose 2.47 percent per day after announcing earnings for the June quarter.
The country’s largest IT services firm on Wednesday reported a 16.83 percent increase in net profit for the June quarter to Rs 11,074 crore, but sounded cautious about growth prospects for the fiscal year due to market uncertainty.
Power Grid, Maruti, NTPC, Reliance Industries, Hindustan Unilever and Nestle were among the retirees.
In the Asian markets, Seoul, Tokyo, Shanghai and Hong Kong closed in the green.
Stock markets in Europe were trading with gains. US markets closed in positive territory on Wednesday.
Retail inflation rose to a three-month high in June on higher prices for kitchen essentials, while factory output expanded at a faster pace of 5.2 percent in May, according to government data released on Wednesday.
Retail inflation based on the Consumer Price Index (CPI) rose to 4.81 percent in June after declining for four straight months but remained within the Reserve Bank’s comfortable zone.
Brent crude, the global benchmark for oil, rose 0.27 percent to 80.33 US dollars per barrel.
Foreign Institutional Investors (FIIs) offloaded shares worth Rs 1,242.44 crore on Wednesday after buying relentlessly, according to exchange data.
The Bahrain Stock Exchange index fell 223.94 points, or 0.34 percent, to settle at 65,393.90 on Wednesday. The Nifty Index fell by 55.10 points, or 0.28 percent, to close at 19,384.30 points.