New Delhi: The Bull run continues on Dalal Street on Thursday. The Sensex and Nifty hit fresh lifetime high levels in early trade today. The equity benchmark indices hit their lifetime peaks amid firm global market trends and buying in blue-chip stocks and robust FIIs inflows.
The 30-share BSE Sensex rallied 388.84 points to hit a fresh high of 80,375.64. The Nifty appreciated 114.45 points to hit a lifetime high of 24,400.95.
Sensex pack major gainers: Tata Consultancy Services, Mahindra & Mahindra, Infosys, Tata Motors, ICICI Bank, and HCL Technologies and others.
Major laggards: Adani Ports, Special Economic Zone, Bharti Airtel, HDFC Bank, IndusInd Bank, and others.
According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore.
Commenting on FIIs investment, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, the visible figure is a result of heavy buying in HDFC Bank.
“The big FII buying of Rs 5,484 crore on Wednesday is largely due to the massive delivery-based buying in banking stocks led by HDFC Bank. This delivery-based buying may sustain for a few more days imparting resilience to the market.
“The FIIs with 3.78 lakh long contracts have taken a ‘U’ turn in their market approach from the big short contracts in early June. A decline in the US 10-year bond yield to 4.35 per cent and the dollar index declining to 105.29 are positives for fund inflows,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
He further said that the Stock Market will start responding to the Q1 results of the companies starting next week.
World markets
Asian markets: Tokyo and Seoul were trading in Green; Shanghai and Hong Kong were quoting lower.
US markets ended higher on Wednesday during the shortened trading session. The US markets are closed because of US Independence Day.
Global oil benchmark Brent crude fell 0.60 per cent to USD 86.82 a barrel.
Sensex, Nifty on July 3, 2024
In a historic achievement, the 30-share Sensex hit the historic 80,000 mark for the first time intra-day trade on July 3, 2024. The index rallied 632.85 points to a record intraday high of 80,074.30 and closed near the 80,000 level at 79,986.80.
The Bull run continues on Dalal Street on Thursday. The Sensex and Nifty hit fresh lifetime high levels in early trade today. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
