Sensex, Nifty end at record closing highs, driven by foreign funds inflow
Equity benchmark indices, Sensex and Nifty, continued their upward movement on Wednesday, reaching fresh record high levels. This surge was primarily driven by foreign fund inflows and optimism in the global markets. The buying activity in major index companies like Reliance Industries and ITC also contributed to the market’s positive momentum.
The 30-share BSE Sensex rallied for the fifth consecutive day, gaining 302.30 points, or 0.45 per cent, and settling at a new record closing high of 67,097.44. Throughout the day, it reached an all-time intra-day peak of 67,171.38, climbing 376.24 points, or 0.56 per cent. The NSE Nifty also performed well, gaining 83.90 points or 0.42 per cent to end at its lifetime closing high of 19,833.15. It achieved a fresh record intra-day peak of 19,851.70, climbing 102.45 points, or 0.51 per cent.
Top gainers and laggards
Among the top gainers in the Sensex pack were NTPC, Bajaj Finance, IndusInd Bank, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Motors, ITC, Power Grid, and Larsen & Toubro. IndusInd Bank saw a 2 per cent increase after reporting a 30 per cent jump in consolidated net profit for the April-June quarter. On the other hand, Tata Consultancy Services, Bharti Airtel, Maruti, Hindustan Unilever, Nestle, and ICICI Bank were among the laggards.
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Foreign Institutional Investors (FIIs) continued their buying activity, investing Rs 2,115.84 crore in equities on Tuesday, as per exchange data. In Asian markets, Seoul, Tokyo, and Shanghai ended in the green, while Hong Kong experienced a decline. European equity markets were trading positively, and the US markets also closed in the positive territory on Tuesday.
“Despite the current high levels, domestic investors remain confident in the Indian economy. The market’s broad-based rally is strengthened by encouraging domestic macroeconomic data and sustained inflows from FIIs. Although there was some initial profit booking, the market confidently recovered, with buying observed in all major sectors except for auto and IT. Additionally, the global market provides comfort to the rally, with expectations of a moderation in global inflation,” said Vinod Nair, Head of Research at Geojit Financial Services.
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Major milestones
Following are the major milestones reached by the Sensex in recent years:
* July 19, 2023: Sensex ends at new closing peak of 67,097.44; reaches all-time intra-day high of 67,171.38
* July 18, 2023: Ends at fresh record closing high of 66,795.14; hits the 67,000-mark for the first time in intra-day trade
* July 17, 2023: Finishes at new all-time closing high of 66,589.93; hits lifetime intra-day peak of 66,656.21
* July 14, 2023: Ends above the 66,000-mark for the first time; hits record intra-day peak of 66,159.79
* July 13, 2023: Hits the 66,000-mark for the first time in intra-day trade
* July 3, 2023: Breaches and settles above the 65,000-mark for the first time
* June 30, 2023: Ends day above the 64,000-level
* June 28, 2023: Touches a new peak of 64,000 in intra-day trade
* November 30, 2022: Hits the 63,000-mark for the first time
* October 19, 2021: Goes past 62,000 mark during intra-day trade
* October 14, 2021: Breaches the 61,000-mark for the first time in intra-day and at close of trade
* September 24, 2021: At over 60,000 level both during intra-day and close of trade
* September 16, 2021: Touches and settles above 59,000-mark for the first time
* September 3, 2021: Scales 58,000-mark during intra-day trade and closes above that level
* August 31, 2021: Goes past the 57,000-mark in intra-day trade and closes above that level
* August 27, 2021: Ends above 56,000 level for the first time
* August 18, 2021: Goes past the 56,000-mark for the first time intra-day
* August 13, 2021: Goes past the 55,000-mark and closes above that level
* August 4, 2021: Hits the 54,000-mark for the first time in intra-day trade and closes above that level
* July 7, 2021: Settles above 53,000 level at the end of trade for the first time
* June 22, 2021: Touches the 53,000-mark during intra-day trade
* February 15, 2021: Goes past the 52,000-mark
* February 8, 2021: Ends above the 51,000 level
* February 5, 2021: Goes past the 51,000-mark during intra-day trade
* February 3, 2021: Ends above 50,000 for the first time
* January 21, 2021: Reaches the 50,000-point milestone in intra-day trade.
With agency inputs
