Sensex Hits All-Time High On Positive Global Cues

Sensex Hits All-Time High

Indian equity frontline indices opened at record highs on Monday, driven by a rally in the US market.

At the session’s start, Sensex surged to a new all-time high of 82,725, while Nifty reached 25,333. By 9:43 a.m., Sensex had risen 246 points or 0.30% to 82,612, and Nifty gained 77 points or 0.31% to 25,313.

In early trading, midcap and smallcap stocks showed mixed performance. The Nifty midcap 100 index dipped 45 points or 0.08% to 59,234. Meanwhile, the Nifty smallcap 100 index inched up 19 points or 0.10% to 19,326.

Sector-wise, IT, financial services, FMCG, energy, private banks, consumption, and infrastructure led the gains. Conversely, PSU banks, pharma, metals, and PSE sectors saw losses.

Market experts noted that the market has entered a phase of steady but mild upward movement, largely driven by the accumulation of quality largecaps. The recent buying by Foreign Institutional Investors (FIIs), especially due to large bulk deals, has further boosted market sentiment.

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“If the market closes positive today, it will mark a historic 13-day winning streak for Nifty, setting a new record for the Indian stock market,” experts added.

Top gainers in the Sensex pack include ITC, Asian Paints, HCL Tech, UltraTech Cement, Bajaj Finance, TCS, Infosys, Tech Mahindra, Maruti Suzuki, JSW Steel, Sun Pharma, and Nestle. On the flip side, Tata Motors, M&M, NTPC, Titan, and ICICI Bank emerged as the top losers.

Most Asian markets traded in the green. Tokyo, Jakarta, and Seoul saw gains, while Hong Kong and Shanghai faced declines. US markets closed Friday’s session with gains.

On August 30, FIIs continued their buying spree, acquiring equities worth Rs 5,316 crore. However, domestic institutional investors (DIIs) sold equities worth Rs 3,198 crore on the same day.

Shibra Arshad