MONEY

Sensex, Nifty scale new peaks, BSE m-cap hits Rs 250 lakh cr, Nifty gains 1,000 points in 19 sessions

Equity indices jumped to record highs in yet another session on Tuesday, with the benchmark BSE Sensex rising by over 650 points, led by gains in metal and IT stocks.


After hitting a lifetime high of 57,625, the 30-share BSE index soared 663 points or 1.16 per cent to finish at a record high of 57,552. The broader NSE Nifty settled 201 points or 1.19 per cent up at a fresh peak of 17,132.


Bharti Airtel was the top gainer in the Sensex pack, rising nearly 7 per cent to hit its 52-week high after its founder said that the wireless carrier wanted to improve access to growth capital and reduce debt leverage. This announcement followed a day after it had announced plans to raise up to Rs 21,000 crore. 


Bajaj Finance, Bajaj Finserv, Asian Paints, Titan and TCS were the other gainers, rising as much as 4.94 per cent.


Nestle India, IndusInd Bank, Reliance and PowerGrid were the only losers, falling by up to 1.29 per cent. 


Among multiple firsts for Dalal Street, the market capitalisation (m-cap) of companies listed on BSE crossed the Rs 250,00,000-crore mark for the first time ever on Tuesday.


The BSE index has now soared over 4,000 points so far this month, as the markets continue to rally. 


On the NSE platform, sub-indices Nifty Metal, Consumer Durables and Financial Services gained up to 1.19 per cent. The NSE Nifty clocked its fastest-ever, 1,000-point gain in mere 19 trading sessions.


 “After a run-up in the market, it should take a breather and then take cues from global markets. A consolidation is long overdue, which should happen,” said Neeraj Dewan, a director of Quantum Securities. 


“A distinguishing feature of this bull market, which started in April 2020, is that it has been remarkably stable without any major correction,” noted V K Vijayakumar, the chief investment strategist of Geojit Financial Services.

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