Sensex jumps 149 points to new record; Nifty closes shy of 18K

Mumbai, October 12

Extending its gains to the fourth consecutive session, equity benchmark Sensex jumped around 149 points to mark yet another record close of 60,284 on Tuesday, tracking gains in primarily banking and consumer durables stocks.

After a volatile trading session, the 30-share Sensex ended 148.53 points or 0.25 per cent higher at 60,284.31. Similarly, the Nifty rose 46 points or 0.26 per cent to its fresh closing peak of 17,991.95.

Titan was the top gainer in the Sensex pack, rallying over 5 per cent, followed by Bajaj Auto, Bajaj Finserv, SBI, Nestle India, ITC, Axis Bank and Tata Steel.

On the other hand, HCL Tech, Tech Mahindra, UltraTech Cement, TCS and Sun Pharma were among the laggards.

Following selling in IT stocks as a result of a weak start to the earnings season and weakness in global markets, the domestic market traded in the negative zone, said Vinod Nair, Head of Research at Geojit Financial Services.

“However, with strong support from PSU banks on revamped hopes of privatisation and continued buying interest in consumer goods, metals and auto, indices managed to end on a positive note.

“While global markets traded with cuts in fears of rising inflation due to soaring commodity prices and energy crunch,” he stated.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with losses.

Stock exchanges in Europe were also trading on a negative note in early deals.

Meanwhile, international oil benchmark Brent crude rose 0.26 per cent to USD 83.87 per barrel. PTI

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