Sensex soars to 55K mark as markets continue record run
Mumbai: The BSE Sensex vaulted above the 55,000-mark for the first time on Friday as investors remained in risk-on mode amid favourable macroeconomic data and growth optimism.
Investors' wealth jumped Rs 3,48,431.23 crore as the market rally continued for the second straight session on Friday.
Index heavyweights TCS, RIL, Infosys and HDFC twins saw robust buying, while pharma stocks slipped.
Rallying for the second straight session, the 30-share Sensex jumped 593.31 points or 1.08 per cent to its new all-time high of 55,437.29. It touched an intra-day record of 55,487.79.
Similarly, the broader NSE Nifty breached the 16,500 level, advancing 164.70 points or 1.01 per cent to its fresh closing peak of 16,529.10. It surged to a record of 16,543.60 during the day.
TCS was the top performer among the Sensex components, spurting 3.22 per cent, followed by L&T, Bharti Airtel, HCL Tech, Tata Steel, Bajaj Auto, Reliance Industries and HDFC Bank.
On the other hand, PowerGrid, IndusInd Bank, Dr Reddy's, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra were among the laggards, skidding up to 1.28 per cent.
During the week, the Sensex rallied 1,159.57 points or 2.13 per cent, while the Nifty soared 290.90 points or 1.79 per cent.
Sectorally, BSE telecom, teck, capital goods, IT, energy and consumer durables indices rose up to 1.80 per cent, while realty, healthcare and utilities ended in the red.
Broader BSE midcap and smallcap indices underperformed the benchmark to end up to 0.06 per cent lower.
Asian markets remained under pressure amid China's regulatory crackdown on companies and rising COVID-19 cases in the country. Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended in the red.
Meanwhile, international oil benchmark Brent crude fell 0.10 per cent to $71.24 per barrel.
The Indian rupee reversed all its intra-day losses rising just one paise to close at 74.24 against the US dollar on Friday.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 212.11 crore, as per exchange data.
