Sensex, Nifty close at all-time highs on gains in HDFC twins, RIL

Mumbai, Jun 21 (PTI) Benchmark indices Sensex and Nifty rallied to close at all-time highs on Wednesday driven by buying in index majors HDFC twins and Reliance Industries.

Positive trends in European markets also added to the momentum in domestic equities.

The 30-share BSE Sensex climbed 195.45 points or 0.31 per cent to settle at a record closing high of 63,523.15. During the day, it jumped 260.61 points or 0.41 per cent to its all-time intra-day peak of 63,588.31.

On December 1 last year, the Sensex hit its intra-day record peak of 63,583.07.

The NSE Nifty advanced 40.15 points or 0.21 per cent to end at its lifetime closing peak of 18,856.85. The stock touched an intra-day high of 18,875.90..

From the Sensex pack, Power Grid, HDFC Bank, HDFC, Tech Mahindra, Tata Consultancy Services, Wipro, Reliance Industries and Larsen & Toubro were the major gainers.

Mahindra & Mahindra, ITC, IndusInd Bank, Axis Bank, Bajaj Finance and Maruti were among the laggards.

In Asian markets, Tokyo ended in the green, while Seoul, Shanghai and Hong Kong settled lower.

Equity markets in Europe were trading mostly in the green. The US markets ended lower on Tuesday.

“It’s a pleasure to see Sensex reaching a new all-time high in spite of several challenges from the global front. We are waiting for the June quarterly results to trickle in with hopes that it would be by and large in sync with expectations,” said Rakeshh Mehta, Chairman, Mehta Equities Ltd.
“Sensex rallying to all-time-high is in tune with the global rally in stock markets. Most markets are at 52- week highs. Last year, global markets had corrected discounting a US recession early this year and its impact on global growth and corporate earnings,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Global oil benchmark Brent crude climbed 0.03 per cent to USD 75.98 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 1,942.62 crore on Tuesday, according to exchange data.

The 30-share BSE benchmark settled higher by 159.40 points or 0.25 per cent at 63,327.70 on Tuesday. The Nifty advanced 61.25 points or 0.33 per cent to end at 18,816.70.