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Sensex, Nifty continue record-setting spree on upbeat macro data

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Mumbai, Oct 14: Benchmark indices Sensex and Nifty raced to fresh record highs by notching their sixth straight session of gains on Thursday as participants cheered improving macroeconomic data and positive global cues.

Going past the 61,000-mark for the first time ever, the BSE Sensex soared 568.90 points or 0.94 per cent to finish at a new closing peak of 61,305.95. The index also marked its fresh intraday record of 61,353.25 during the day’s trade.

Similarly, the NSE Nifty surged 176.80 points or 0.97 per cent to a new lifetime closing high of 18,338.55. Intraday, the gauge touched a new record of 18,350.25 before easing some gains towards the fag-end of the session.

On the Sensex chart, ITC was the top gainer with around 3 per cent rise, followed by HDFC Bank, PowerGrid, ICICI Bank, IndusInd Bank and NTPC.

On the other hand, TCS, HCL Tech, Bajaj Finance, Asian Paints and Bharti Airtel were among the laggards.

Of the Sensex constituents, 22 closed with gains and 8 ended with losses.

In the past six trading sessions, the Sensex has added over 2,116 points or 3.57 per cent, and the Nifty has gathered more than 692 points or 3.92 per cent.

On a weekly basis, the Sensex rallied 1,246.89 points or 2.07 per cent, and the Nifty soared 443.35 points or 2.47 per cent.

Market will remain closed on Friday for Dussehra.

Sectorally, BSE bankex, finance, metal, realty, capital goods and basic materials rose up to 1.67 per cent, while auto index ended in the red. Broader midcap and smallcap indices rose up to 0.54 per cent.

“The Indian market sustained its upbeat mood supported by positive global market, favourable inflation data and upmove in IT stocks following strong earning scorecards by sector majors, Vinod Nair, Head of Research at Geojit Financial Services, said.

The wholesale price-based inflation eased to 10.66 per cent in September, helped by moderating food prices even as crude petroleum witnessed a spike.

Retail inflation in September too slowed to a five-month low of 4.4 per cent on moderating food prices.

“Banking stocks also contributed to the rally and remained in focus as the sector is set to kickstart its earnings season,” Nair added.

Elsewhere in Asia, bourses in Seoul and Tokyo ended with strong gains, while Shanghai was in the red.

Stock exchanges in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 1.02 per cent to USD 84.03 per barrel.

On the forex market front, the rupee recovered 11 paise to end the session at 75.26 to the US currency.

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