Market Update: Sensex hits 32,533.34 on fund inflow and Nifty on new high of 10,000
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The benchmark BSE Sensex soared to a fresh life-time high of 32,533.34 and the NSE Nifty hit a new high of 10,068.40 in opening trade today on continued buying by investors driven by encouraging earnings by corporate amid positive global cues.
Short-covering of bets, today being the last session of July expiry in the derivatives segment, kept the sentiment upbeat.
Rising for the second day in a row, the 30-share index rose by 150.88 points, or 0.46 %, to hit a new peak of 32,533.34.
The gauge had gained 154.19 points in the previous session to close at a record high at 32,382.46. It had also touched an intra-day lifetime high of 32,413.63.
Reflecting the overall trend, all the sectorial indices led by realty, bank, IT, technology and power were trading in the positive zone, with gains of up to 1.93 %.
The 50-share NSE Nifty gained 47.75 points, or 0.47 %, to trade at its lifetime high of 10,068.40.
Stock of India's fourth-largest software services exporter, HCL Technologies climbed 3.20 % to Rs 920 after the company today reported a 6.1% rise in consolidated net profit at Rs 2,171 crore for the first quarter ended June.
Major contributors to the indices were HDFC Ltd, Asian Paints, Maruti Suzuki, HDFC Bank, Hindustan Unilever, TCS,
Hero MotoCorp, Bajaj Auto, Tata Motors, Axis Bank, M&M and Infosys, rising by up to 2.55 %.
Brokers said that the market mood remained buoyant, bolstered by domestic and foreign institutional investors' buying coupled with better-than-expected Q1 earnings numbers posted by some blue-chip companies.
Moreover, a firming trend overseas, especially the US markets which ended at record high yesterday with expectations for another US interest rate hike this year dented by a tepid Federal Reserve inflation outlook, too enthused investors.
In the Asian region, Hong Kong's Hang Seng was up 0.34 %, Japan's Nikkei gained 0.220 % while Shanghai Composite index edged lower by 0.32 % in early trade today.
Other Latest News
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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