Sensex, Nifty close at new record high as bulls return

Mumbai, September 2

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 closing highs.

The 30-share BSE Sensex rallied 514.33 points to finish at its fresh all-time high of 57,852.54. Similarly, the NSE Nifty surged 157.90 points to record 17,234.15.

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

TCS top gainer

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• The Sensex rallied 514 pts to finish at its fresh all-time high of 57,852. Similarly, the Nifty surged 157 pts to record 17,234.15
• TCS topped the chart with 3.34% gains, followed by HUL, UltraTech, Dr Reddy’s, Nestle, Kotak Bank and Titan
• M&M tumbled 2.29% after the company announced it will slash production by up to 25% owing to global semiconductor shortage

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

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

“Indian markets started on a positive note despite mixed Asian market cues which traded lacklustre as investors eye US job data. During the afternoon session, markets added to the gains on the back of sustained buying activities by traders,” said Narendra Solanki, Head-Equity Research (Fundamental), Anand Rathi.

Vinod Nair, Head of Research at Geojit Financial Services, said domestic indices climbed amid positive economic data, FII buying and mixed global markets ahead of the release of US job data. — PTI