Rally continues: Sensex, Nifty hit lifetime highs
Mumbai, July 4
Registering fresh record closing highs for the fourth straight session, Sensex sailed past 65,400 points and Nifty crossed 19,300 points on Tuesday, as foreign fund flows and overall optimism over the economy continued to fuel the market rally.
Investors richer by Rs 7.90 l cr in 5 days
- Equity investors’ wealth went up by Rs 7.90 lakh crore in five days of rally in the Sensex, which is on a record-breaking run
- The market capitalisation of BSE-listed firms also reached an all-time high of Rs 298 lakh crore on Tuesday
- Sensex has gained over 2,500 points in the past five sessions
Besides, unabated foreign fund inflows and heavy buying in financial and IT counters added to the optimism in the equity market.
Rallying for the fifth straight session, the Sensex jumped 274 points to settle at its all-time closing high of 65,479.05. During the day, the benchmark surged 467.92 points to hit its lifetime intra-day peak of 65,672.97.
The NSE Nifty climbed 66.45 points to end at a fresh record high of 19,389. In the session, it advanced 111.6 points to hit its all-time intra-day peak of 19,434.15.
In the last four sessions of a record-making spree, the blue-chip Sensex surged more than 1,500 points and the Nifty jumped over 400 points.
“The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs,” said Vinod Nair, Head of Research at Geojit Financial Services. Bajaj Finance was the best performer in the Sensex chart, spurting 7.71%, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, NTPC, Titan, Wipro, Tata Consultancy Services, Kotak Mahindra Bank, Infosys, SBI and ITC.
On the other hand, Bharti Airtel, Axis Bank, Reliance Industries, IndusInd Bank, Tata Steel and UltraTech Cement were among the laggards.
