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Sensex, Nifty hit record highs on rally in IT, capital goods stocks

Sensex, Nifty hit record highs on rally in IT, capital goods stocks

Sensex touched all time high of 53,253, rising 349 points against previous close of Rs 52,904. Nifty gained 93 points to log record high of 15,946 against previous close of 15,853

Market cap of BSE listed firms rose to Rs 233.83 lakh crore. Market breadth was positive with 1,634 shares rising against 1,478 falling on BSE. Market cap of BSE listed firms rose to Rs 233.83 lakh crore. Market breadth was positive with 1,634 shares rising against 1,478 falling on BSE.

Sensex and Nifty hit fresh all-time highs in afternoon session today, led by gains in IT and capital goods shares. IT stocks rose after Infosys raised its revenue guidance for FY22 with the share logging record high in early trade today.

Sensex touched all time high of 53,253, rising 349 points against previous close of Rs 52,904. Nifty gained 93 points to log record high of 15,946 against previous close of 15,853.

Top Sensex gainers were HCL Tech, L&T and Tech Mahindra rising up to 6.04%. Of 30 Sensex stocks, 18 shares were trading in green.

Asian Paints, M&M, Bharti Airtel were among the top Sensex losers falling up to 0.60%.

BSE mid cap and small cap indices rose 47 points and 89 points, respectively.

Also read: Infosys share hits record high after firm raises revenue guidance for FY22

Capital goods stocks led the gains with the BSE capital goods index surging 414 points to 23,689.

IT index also climbed 409 points to 30,463. Infosys share touched a fresh record high after the Bengaluru-based IT firm raised its revenue guidance for FY22 in its earnings performance for the quarter ended June 2021.

Share of Infosys rose 1.29% to an all-time high of Rs 1,597.25 against previous close of Rs 1,576.90 on BSE. On Wednesday, the IT stock closed 2.07% or Rs 32 higher at Rs 1,576 before the firm's Q1 earnings were announced.

Market cap of BSE listed firms rose to Rs 233.83 lakh crore today. Market breadth was positive with 1,634 shares rising against 1,478 falling on BSE.

On the approach should investors adopt amid record high market levels, Yash Gupta, Equity Research Associate at Angel Broking said, "IT sector was the star performer since the last two trading sessions and today. BSE Information Technology is up by 1.38% on back of above expected results by IT companies while S&P BSE Capital Goods is up by 2.05%.

We expect the market to remain in momentum and we may see some consolidation in the pharma sector. We suggest retail investors to stick to quality midcap & large cap stocks as we expect them to outperform the market."

On Wednesday, Indian equity market closed higher as IT stocks rallied ahead of Infosys Q1 earnings. Sensex ended 134 points higher at 52,904 and Nifty advanced 41.60 points to 15,853.

Published on: Jul 15, 2021, 2:00 PM IST
Posted by: Aseem Thapliyal, Jul 15, 2021, 1:53 PM IST