Sensex, Nifty extend gains to scale fresh peaks on firm global cues

Mumbai: Both the Sensex and Nifty indices reached new record high closing levels on Friday, following positive movement in international markets and increased foreign investments. Investing in leading index companies like Bharti Airtel, ICICI Bank, and Infosys helped boost the stock market surge. For the ninth consecutive session, the 30-share BSE Sensex increased by 231.16 points or 0.28 percent, reaching a record high closing of 82,365.77. Throughout the day, it surged 502.42 points or 0.61 pc to reach a new high of 82,637.03.

The NSE Nifty reached a new record closing high of 25,235.90 after rising 83.95 points or 0.33 pc, extending its winning streak to 12 consecutive days. Throughout the day, it increased by 116.4 points or 0.46 pc to reach a new all-time high of 25,268.35. The largest gainers among the 30 Sensex companies were Bajaj Finance, Mahindra & Mahindra, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel, and Tata Consultancy Services. On the other hand, Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra, and ITC experienced lower performance.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong closed with increases. European markets were experiencing positive trading conditions. Thursday saw a mix of results in the US markets at the close of trading. According to data from the exchange, equities worth Rs 3,259.56 crore were purchased by Foreign Institutional Investors (FIIs) on Thursday.
Domestic Institutional Investors bought equities worth Rs 2,690.85 crore. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned that the market's resilience is due to DIIs and HNIs continuing to accumulate quality large-caps, while FIIs have reduced their selling and started buying on specific days.

Brent crude, the global oil benchmark, rose by 0.08 percent to reach USD 80 per barrel. On Thursday, the BSE benchmark reached a record high closing of 82,134.61, a 0.43 pc increase of 349.05 points, marking its eighth consecutive day of gains. For the 11th consecutive day, Nifty rose by 99.60 points or 0.40 pc to reach a record closing high of 25,151.95, marking a continued rally.