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Sensex, Nifty scale fresh peaks on firm global cues

August 30, 2024 16:29 IST

Equity benchmark indices Sensex and Nifty marched higher to scale fresh lifetime closing peaks on Friday, tracking a largely firm trend in global markets and renewed foreign fund inflows.

Brokers

Photograph: Amit Dave/Reuters

Buying in index majors Bharti Airtel, ICICI Bank and Infosys also fuelled the rally in equities.

Rallying for the ninth straight session, the 30-share BSE Sensex climbed 231.16 points or 0.28 per cent to settle at an all-time closing high of 82,365.77.

 

During the day, it jumped 502.42 points or 0.61 per cent to hit a record intra-day peak of 82,637.03.

The NSE Nifty soared 83.95 points or 0.33 per cent to hit a new lifetime closing high of 25,235.90, taking its victorious run to the 12th day in a row.

During the day, it surged 116.4 points or 0.46 per cent to hit a new record intra-day peak of 25,268.35.

Among the 30 Sensex firms, Bajaj Finance, Mahindra & Mahindra, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel and Tata Consultancy Services were the biggest gainers.

In contrast, Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra and ITC were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with gains.

Foreign Institutional Investors (FIIs) bought equities worth Rs 3,259.56 crore on Thursday, according to exchange data.

Domestic Institutional Investors lapped up equities worth Rs 2,690.85 crore.

"Continuation of accumulation of quality large-caps by the DIIs (Domestic Institutional Investors) and HNIs and the FIIs reducing their selling significantly and buying on certain days have contributed to the resilience of the market," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.08 per cent to $80 a barrel.

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