Mumbai: Benchmark stock indices Sensex and Nifty scaled fresh lifetime highs in intra-day trade Thursday before closing marginally higher amid positive global trends on growing hopes of a US Fed rate cut and foreign fund inflows.
Rising for the second day, the 30-share BSE Sensex climbed 110.87 points or 0.13 per cent to settle at 85,720.38. During the day, it hit a record high of 86,055.86, reflecting a jump of 446.35 points or 0.52 per cent. The earlier lifetime high of the benchmark was 85,978.25 hit September 27, 2024.
The 50-share NSE Nifty ended marginally higher by 10.25 points or 0.04 per cent at 26,215.55. During the day, the benchmark rallied 105.15 points or 0.40 per cent to hit an all-time high of 26,310.45. The broader index had earlier scaled its record intra-day high of 26,277.35 September 27, 2024.
Among Sensex firms, Bajaj Finance, ICICI Bank, Hindustan Unilever, Bajaj Finserv, HCL Tech and HDFC Bank were the major gainers.
However, Maruti, Eternal, UltraTech Cement and State Bank of India were among the laggards.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index settled in positive territory.
Equity markets in Europe were trading marginally lower. US markets ended higher on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,778.03 crore on Wednesday, according to exchange data. Domestic Institutional Investors (DIIs) also purchased stocks worth Rs 6,247.93 crore in the previous trade.
“Indian markets soared to record highs on Thursday, lifted by a sharp improvement in global risk appetite amid rising expectations of an interest-rate cut by the US Federal Reserve. The upbeat sentiment across global equities provided a strong tailwind for domestic markets,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Brent crude, the global oil benchmark, dipped 0.05 per cent to USD 63.10 per barrel.
On Wednesday, the Sensex jumped 1,022.50 points or 1.21 per cent to settle at 85,609.51. The Nifty zoomed 320.50 points or 1.24 per cent to end at 26,205.30.
PTI
