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Home Business Sensex, Nifty End At Record Highs Fuelled By Rally In IT Shares

Sensex, Nifty End At Record Highs Fuelled By Rally In IT Shares

The Indian fairness benchmarks closed at all-time highs on Thursday fuelled by a rally in info know-how shares after they posted robust earnings in first quarter of the present monetary yr. The Sensex rose as a lot as 362 factors to hit an all-time excessive of 53,266.12 and Nifty 50 index moved above its essential psychological degree of 15,950 for the primary time to hit file excessive of 15,952. IT shares witnessed robust shopping for curiosity after the sector main Infosys raised its full yr income steerage to 14-16 per cent elevating.

The Sensex superior 255 factors or 0.48 per cent to shut at file excessive of 53,159 and Nifty 50 index jumped 70 factors to shut at an all-time excessive of 15,924.

Outcomes from Infosys and Tata Consultancy Providers, with stable outlooks, augur nicely for the trade and may invite additional investments, V Okay Vijayakumar, chief Funding strategist at Geojit Monetary Providers, stated in a word.

Seven of 11 sector gauges compiled by the Nationwide Inventory Trade ended greater led by the Nifty IT index’s over 1 per cent achieve to shut at file excessive. Nifty Financial institution, Monetary Providers, Metallic, Non-public Financial institution, and Realty indices additionally closed greater.

Then again Nifty Auto and PSU Financial institution indices closed decrease.

Mid- and small-cap shares additionally witnessed shopping for curiosity as Nifty Midcap 100 index rose 0.48 per cent and Nifty Smallcap 100 index climbed 1 per cent.

Among the many particular person shares, L&T Expertise Providers rose as a lot as 16 per cent hit file excessive of Rs 3,366 after it reported June quarter earnings. L&T Expertise Providers’ web revenue within the first quarter of present monetary yr jumped 84 per cent to Rs 216 crore in contrast with Rs 117 crore throughout the identical quarter final yr. Its income from operations superior 17 per cent to Rs 1,518 crore as towards Rs 1,295 crore within the yr in the past interval.

Larsen & Toubro was among the many prime Nifty gainers, the inventory climbed practically Four per cent to shut at Rs 1,601 after its subsidiary L&T Expertise Providers reported robust June quarter earnings.

HCL Applied sciences, Wipro, Tech Mahindra, Hindalco, UPL, HDFC Financial institution and ITC additionally rose between 1-Four per cent.

On the flipside, ONGC, Eicher Motors, Bharti Airtel, Grasim Industries, Coal India, Britannia Industries, Solar Pharma, Titan, Indian Oil and NTPC have been among the many losers.

The general market breadth was impartial as 1,665 shares ended greater whereas 1,571 closed decrease on the BSE.

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