Mumbai :The Sensex and Nifty rose after initially dropping on Tuesday, reaching record levels of 85,000 and close to 26,000 respectively, supported by strong performance in Asian markets and investment in HDFC Bank. Regaining all the previously lost progress, the 30-stock BSE Sensex rose by 123.81 points to reach a new record high of 85,052.42. The NSE Nifty increased by 39.85 points, reaching a new all-time high of 25,978.90. The benchmark is only 21.1 points shy of reaching the significant 26,000 milestone.
Tata Steel, JSW Steel, Power Grid, HDFC Bank, Tata Motors, and Larsen & Toubro were the top performers among the 30 Sensex companies. Hindustan Unilever, Infosys, Bajaj Finance, Axis Bank, Kotak Mahindra Bank and UltraTech Cement were among the companies that performed poorly. Seoul, Tokyo, Shanghai, and Hong Kong were all trading in positive territory in Asian markets. The markets in Shanghai and Hong Kong were showing much higher quotes. Monday saw the US markets closing with gains.
According to data from the exchange, Rs 404.42 crore worth of stocks were purchased by Foreign Institutional Investors (FIIs) on Monday. S&P Global Ratings kept India's growth projection unchanged at 6.8 percent for the current fiscal year and predicted that the RBI would initiate interest rate reductions during its October monetary policy meeting. International standard for oil prices, Brent crude, increased by 0.93 pc to $74.59 per barrel. For the third consecutive day on Monday, the BSE benchmark surged by 384.30 points or 0.45 pc, closing at a record high of 84,928.61. Throughout the daytime, it surged by 436.22 points, reaching a new all-time high of 84,980.53, representing a 0.51 percent increase. The NSE Nifty reached a new high of 25,939.05, rising by 148.10 points or 0.57 percent at the close. Throughout the daytime hours, it surged by 165.05 points.
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