Sensex, Nifty scale new peaks

Mumbai, November 29

The Sensex and Nifty ended at fresh lifetime peaks on Tuesday amid a largely firm trend in other Asian markets and continuous foreign fund inflows.

Hindustan Unilever top gainer

• The BSE benchmark gained 177.04 points to settle at 62,681.84, its fresh record closing high
• During the day, it jumped 382.6 points to its lifetime intra-day peak of 62,887.40
• The NSE Nifty advanced 55.30 points to end at 18,618.05, its fresh record closing high
• Among the Sensex pack, Hindustan Unilever, Sun Pharma, Nestle, Dr Reddy’s, Tata Steel, ICICI Bank, Titan and HCL Technologies were the major winners

The Sensex gained 177.04 points to settle at 62,681.84, its fresh record closing high. During the day, it jumped 382.6 points to its lifetime intra-day peak of 62,887.40. The Nifty advanced 55.30 points to end at 18,618.05, its fresh record closing high.

“While the winning streak continued and key benchmarks scaled new highs, investors traded with caution in a slightly volatile market. There are worries about growing protests in China over the imposition of strict lockdowns, which markets fear could hurt the already slowing global economy.

“If the situation doesn’t improve, this could impact the market. But since India is in a slightly better position compared to other major economies, investors are willing to bet big on us,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd., said.

Among the Sensex pack, Hindustan Unilever, Sun Pharma, Nestle, Dr Reddy’s, Tata Steel, ICICI Bank, Titan and HCL Technologies were the major winners.

IndusInd Bank, Bajaj Finserv, Maruti, Power Grid and Larsen & Toubro were among the major laggards.

“Indian markets opened on positive note following positive overall Asian markets… During the afternoon session the markets continued their positive trend with heavy buying in FMCG and consumer durables stocks.

“Sentiments remained optimistic as data showed that foreign portfolio investors have infused funds worth Rs 32,344 crore in the Indian stock markets so far in the month of November and became net buyers again,” said Narendra Solanki – Head Fundamental Research- Investment Services, Anand Rathi Shares & Stock Brokers.