Dalal Street party continues: Sensex, Nifty scale new peaks

Mumbai, June 30

Equity benchmark indices scaled fresh all-time closing highs on Friday, propelled by intense buying in index heavyweights Infosys, HDFC twins, Reliance Industries and TCS amid healthy macroeconomic indicators.

Third straight day of rally

• Rallying for the third straight day, the Sensex jumped 803.14 points to settle at its lifetime closing high of 64,718.56
• The NSE Nifty climbed 216.95 points to end at a record high of 19,189.05. During the day, it rallied 229.6 points to hit its all-time intra-day peak of 19,201.70
• On a weekly basis, the BSE benchmark jumped 1,739.19 points this week, and the Nifty climbed 523.55 points

Besides, foreign fund inflows and a firm trend in the global markets further bolstered sentiment, traders said.

“Investors remain positive about the long-term prospects of the domestic market due to healthy macroeconomic indicators while global cues are also improving as concerns over a recession in the US eases.

“The US economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department,” said Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities.

Mahindra & Mahindra was the best performer in the Sensex pack, rising over 4%, followed by IndusInd Bank, Infosys, TCS, Maruti, L&T, Tech Mahindra, Wipro, Powergrid, HDFC Bank, HDFC, Bajaj Finance and Reliance Industries.