Sensex Today: A blistering rally in information technology (IT) stocks, along with select banking and consumption-related names, took equity indices to record highs on Friday.
The S&P BSE Sensex hit a new lifetime peak of 72,721 on the BSE before closing the day with gains of 847 points, or 1.18 per cent, at 72,568 levels.
The Nifty50, on the other hand, scaled a new summit of 21,928 before ending at 21,895, up 247 points or 1.14 per cent.
Infosys jumped 8 per cent on the benchmark indices as new deal wins accounted for 71 per cent of total deals in Q3FY24. ONGC, LTIMindtree, Tech M, TCS, Wipro, Tata Consumer Products, HCL Tech, SBI, L&T, Bharti Airtel, ICICI Bank, Grasim Industries, and ITC were the other top gainers, rising between 1 per cent and 5.7 per cent.
In the broader markets, the BSE MidCap index hit a new high of 37,941, while the BSE SmallCap touched 44,644. The indices shut shop around 0.4 per cent higher each.
Sectorally, the Nifty IT index zoomed 5.27 per cent, the Nifty PSU Bank index 2.7 per cent, and the Nifty Realty 1.6 per cent.
“With inline results from Infosys and better-than-expected results from TCS, IT stocks will see some action today. Resilience in IT stocks and strength in Reliance will enable Nifty to consolidate around 21600 levels. HDFC Bank results on January 16th will be keenly watched by the market for cues in the direction of Bank Nifty,” said Dr VK Vijaykumar of Geojit Financial.
Global Cues
Elsewhere in Asia, Japan’s Nikkei rose another 1 per cent this morning, and now quoted near 35,500 levels – its highest since 1990. Among others, Hang Seng and Shanghai gained up to 0.5 per cent, while Straits Times, Taiwan and Kospi slipped up to 0.5 per cent.
Overnight, the US market recouped significant losses to end the day on flat note after hotter-than-expected inflation numbers. The US headline CPI rose 0.3 per cent in December, for an annual gain of 3.4 per cent. That was expected to be 0.2 per cent and 3.2 per cent, respectively.
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