Sensex walks, goes over 60,000 in style; Nifty also hits a new high
(RTTNews) – The 30-stock benchmark BSE Sensex hit the 60,000 mark for the very first time as the Indian market opened on a good note on Friday morning, extending recent gains on optimism continued strong growth and slightly alleviating pandemic concerns with greater momentum in the vaccination campaign.
The Sensex, which climbed to 60,333.00, is up 391.34 points or 0.65% to 60,276.70, while the broader National Stock Exchange’s Nifty index is up 105.85 points or 0.59% to 17,928.80 after hitting a new high at 17,947.65.
Information technology stocks, which had remained somewhat subdued in recent sessions, are the first winners this morning. The BSE IT index is up 2.3% and the Nifty IT is up 2.5%.
L&T Infotech, Nifty IT’s biggest winner, is up nearly 6%. Mphasis is up 4.7% and HCL Technologies is up 3.2%, while MindTree, Infosys, Wipro, Oracle Financial Services and Tata Consultancy Services are up 2-3%. Tech Mahindra wins 1.3 percent.
Real estate stocks extend recent gains. Oberoi Realty is up 8.5% and Mahindra Lifespace is up 4.2%. Indiabulls Real Estate, Prestige and Godrej Properties are also on the rise with strong gains.
In the telecoms sector, Bharti Airtel, Idea Cellular and Tejas Network are growing strongly.
Asian Paints, up 5.2%, is the top Sensex winner. Mahindra & Mahindra, HDFC Bank and Kotak Bank gain 1 to 1.3%.
Tata Steel is down more than 2%. ITC, State Bank of India, Hindustan Unilever and UltraTech Cement are also weak.
Asian markets are now posting a mixed performance, continuing to closely monitor developments surrounding the Chinese real estate group Evergrande.
U.S. stocks closed sharply higher overnight, allaying concerns over Evergrande after the Chinese real estate developer struck a deal with mainland bondholders. The massive injection of capital by the People’s Bank of China into the country’s banking system also allayed concerns about a possible Evergrande default.
Investors have ignored a report showing an unexpected increase in first claims for employment benefits in the United States during the week ended September 18. The Dow Jones gained 1.5%, while the Nasdaq and S&P 500 rose 1% and 1.2% respectively.
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