Domestic indices scale new highs as investors remain upbeat
The benchmark indices started Friday's session on a strong footing, with both the Nifty and Sensex registering all-time highs. Investors across various sectors remained bullish about the ongoing momentum in the market.
The Nifty 50 breached the 23,650 level in early trade, rising over 100 points to record its newest peak. The index has now gained nearly 5% over the past month alone. Banking, finance and tech counters provided the crucial support to lift the index higher.
The BSE Sensex followed suit, surging past the 77,800 mark. It was up over 300 points from its previous close. Heavyweight sectors like information technology and financial services contributed largely to the gains.
Key heavyweight stocks from these spaces such as Tech Mahindra, Infosys and HDFC Bank were trading in the green, propelling the indices higher. Other notable gainers included HCL Technologies, Tata Consultancy Services and Bajaj Finserv.
Foreign institutional investors have maintained their supportive stance on Indian equities, injecting over Rs. 400 crore on Thursday. Their sustained purchasing activity has amplified return generation for risk-seeking domestic investors.
Globally, markets in Tokyo, Shanghai and Hong Kong were in slight negative territory. However, the underlying optimistic sentiment among Indian market participants has overridden temporary weaknesses overseas. The bullishness is expected to remain intact, barring any major global headwinds.
