Sensex jumps 759 pts to close at record high, Nifty scales 22K mount on sharp gain in IT shares


Benchmark Sensex closed above the 73,000 level for the first time while broader Nifty scaled the 22,000-point peak on Monday as key stock indices stayed on the record-breaking run powered by a rally in IT shares, Reliance and HDFC Bank.

Rising for the fifth day in a row, the 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a lifetime closing high of 73,327.94. During the day, it rallied 833.71 points or 1.14 per cent to hit an all-time intra-day peak of 73,402.16.

The Nifty climbed 202.90 points or 0.93 per cent to settle at a new closing high of 22,097.45. During the day, it zoomed 221 points or 1 per cent to reach a lifetime intra-day high of 22,115.55.

  • Also read: Weekly Index Outlook | Nifty 50: Short-term outlook is bullish

A strong rally in IT shares Infosys, TCS, Wipro and HCL Tech after better than expected Q3 results helped the indices scale new record high levels. Oil & gas and energy sector shares also boosted the rally.

Among the Sensex firms, Wipro jumped over 6 per cent after the IT company’s December quarter earnings beat estimates.

The other prominent gainers were HCL Technologies, HDFC Bank, Infosys, Tech Mahindra, Bharti Airtel and Reliance Industries.

HCL Technologies on Friday reported a 6.2 per cent increase in consolidated net profit at ₹4,350 crore, highest ever on a quarterly basis, in the three months ended December 2023 on the back of growth in both services and software businesses.

Bajaj Finance, Bajaj Finserv, Larsen & Toubro, Tata Motors, Tata Steel and Axis Bank were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai settled in the green while Hong Kong ended marginally lower. European markets were trading mostly lower. The US markets ended on a muted note on Friday.

Global oil benchmark Brent crude declined 0.29 per cent to $78.06 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth ₹340.05 crore on Friday, according to exchange data.

The BSE benchmark zoomed 847.27 points or 1.18 per cent to settle at 72,568.45 on Friday. The Nifty climbed 247.35 points or 1.14 per cent to settle at 21,894.55.

Leave a Reply

Your email address will not be published. Required fields are marked *