Bulls propel markets to new peaks; IT, FMCG stocks shine

Mumbai: Markets resumed their upward march on Thursday after a day's pause as hectic buying in IT, FMCG and bank stocks propelled benchmarks to new record closing

highs.

The 30-share BSE Sensex rallied 514.33 points or 0.90 per cent to finish at its fresh all-time high of 57,852.54.

Similarly, the NSE Nifty surged 157.90 points or 0.92 per cent to record 17,234.15.

TCS topped the Sensex gainers chart with a jump of 3.34 per cent, followed by HUL, UltraTech Cement, Dr Reddy's, Nestle India, Kotak Bank and Titan.

TCS, Reliance Industries, HUL and HDFC accounted for around half of the benchmark's gains.

In contrast, M&M was the top loser, tumbling 2.29 per cent after the automaker said it will slash output by up to 25 per cent owing to the global semiconductor shortage.

Bajaj Auto, Bajaj Finserv, Bajaj Finance, Asian Paints and L&T were among the other laggards, dropping up to 0.79 per cent.

The market capitalisation of BSE-listed companies jumped to to a record Rs 2,52,68,939.38 crore on Thursday as indices closed at fresh peaks.

Investors' wealth rose by Rs 2,53,612.77 crore.

The market breadth was positive, with 22 Sensex components ending in the green, while the remaining eight nursed losses.

Sectorally, BSE FMCG, IT, consumer durables, teck, basic materials and realty indices advanced as much as 1.56 per cent, while auto and oil and gas indices ended in

the red.

Broader BSE midcap and smallcap indices spurted up to 0.93 per cent.

World stocks ticked higher as investors digested a raft of macroeconomic data.

In Asia, bourses in Shanghai, Hong Kong and Tokyo ended on a positive note, while Seoul was in the red.

Equities in Europe were largely in the positive zone in afternoon trade.

Meanwhile, international oil benchmark Brent crude rose 0.43 per cent to $71.90 per barrel.

Foreign institutional investors were net buyers in the capital market on Wednesday as they purchased shares worth Rs 666.66 crore, as per

exchange data.