Sensex breaches 78,000 level, Nifty at record high

Chandigarh, June 25

Equity market in India hit fresh all-time highs in trades on Tuesday led by a strong rally in large-cap private banking shares. Benchmark BSE Sensex rallied past the 78,000-mark for the first-time ever and registered a summit at 78,105.

It settled at 78,053, up 712 points or 0.92 per cent. Similarly, the NSE Nifty50 climbed above the 23,700 level for the first time to touch a record high of 23,735.5. It ended with gains of 183 points or 0.78 per cent at 23,721 level.

Shares of private lenders which were seen underperforming state-run peers seem to be back on investors’ radar.

Banking shares hold significant weightage in the benchmark indices – the Sensex and the Nifty – hence a sharp movement in this shares, tends to impact the indices accordingly.

Among the 30 Sensex companies, Axis Bank, ICICI Bank, HDFC Bank, Bajaj Finserv and SBI were the biggest gainers. Axis Bank and HDFC Bank rallied nearly 3% each to Rs 1,267 and Rs 1,717, respectively.