Nifty Reaches A New High; Market Benchmarks Rise On Solid Global Cues

Benchmark equity indices rebounded significantly on Friday, with the Nifty hitting a lifetime high in intra-day trade, fueled by a rally in global markets and buying in Reliance Industries, Infosys, and Tata Consultancy Services.

The 30-share BSE Sensex rallied 440.33 points or 0.61 percent to 72,085.63. During the day, it rose 1,444.1 points or 2 percent to 73,089.40.

The Nifty moved 156.35 points or 0.72 percent to 21,853.80. During the day, it surged 429.35 points or 1.97 percent to reach its lifetime high of 22,126.80.

Power Grid, NTPC, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro, Infosys, Tech Mahindra, Reliance Industries, and Bajaj Finance were the Sensex’s top gainers.

Among the laggards were Axis Bank, HDFC Bank, Hindustan Unilever, Larsen & Toubro and ITC.

In Asian markets, Seoul and Tokyo concluded in the green, while Shanghai and Hong Kong concluded in the red territory.

European stocks were trading with gain.

On Thursday, the US markets finished with significant gains.

Brent crude gained 0.48 percent to USD 79.08 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 1,879.58 crore on Thursday.

On Thursday, the Sensex shanked 106.81 points or 0.15 percent to 71,645.30 on the Budget day, while the Nifty lost 28.25 points or 0.13 percent to 21,697.45.

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