The Sensex and the Nifty today hit fresh record highs. Both stocks climbed more than half a percent amid positive global cues. The Sensex closed above 57,300 while the Nifty ended above 17,000 level.
The BSE Sensex gained 424 points, or 0.75 percent, to finish at 57,314. The NSE Nifty also surged 123 points, or 0.73 percent, to settle at 17,054.
In the broader market at BSE, the Mid-Cap gained 0.83 percent and the Small-Cap index surged 0.86 percent.
In the Sensex pack, shares of 27 companies gained while three logged losses. Bharti Airtel was the top gainer as it surged seven percent followed by Bajaj Finance which gained 4.9 percent. Bajaj Finserv climbed 3.3 percent while Asian Paints rose three percent. Titan and TCS, both added 2.3 percent.
On the other hand, Nestle India plunged 1.6 percent, IndusInd Bank declined 1.1 percent and Reliance fell half a percent.
In sectoral indices, all 19 sectors logged gains. Telecom gained the most as it climbed 4.9 percent and Teck surged 1.6 percent. Consumer Durables and Utilities, both gained one and a half percent and Healthcare 1.3 percent.
The overall breadth of the BSE trade was negative as shares of 1571 companies gained while 1623 fell. Shares of 147 companies remained unchanged.
The U.S. equity benchmarks hit all-time highs yesterday, as the Federal Reserve appeared in no rush to step away from its massive stimulus, and U.S. oil prices finished higher.
The S&P 500 and the Nasdaq rose to all-time highs as dovish remarks from the Fed last week bolstered optimism in an economic rebound and eased fears of a sudden tapering in monetary stimulus. Though, the Dow Jones Industrial Average slipped 0.2 percent. The S&P 500 climbed 0.4 percent and the Nasdaq Composite index surged 0.9 percent.
Asian stock markets were positive today tracking gains in the US equity market except Singapore’s Straits Times which declined 1.2 percent. South Korea’s KOSPI climbed 1.8 percent and Hong Kong’s Hang Seng surged 1.3 percent. Japan’s NIKKEI-225 gained 1.1 percent and China’s Shanghai Composite Index rose half a percent.
European stocks were also up in intraday trade except for London’s FTSC-100 which was trading almost flat. France’s CAC was trading 0.3 percent up while Germany’s DAX gained 0.7 percent.