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Sensex, Nifty close at lifetime highs; metal, IT stocks lead gains

In early trade, Sensex zoomed 341 points to scale a record high of 52,641 against previous close of 52,300. Nifty rose 98 points to lifetime high of 15,835 against previous close of 15,737

Aseem Thapliyal | June 11, 2021 | Updated 17:22 IST
Sensex, Nifty close at lifetime highs; metal, IT stocks lead gains
Dr Reddy's was the top Sensex gainer rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries.

Sensex and Nifty closed at record highs on Friday, led by gains in index heavyweights Reliance Industries, Infosys and TCS amid positive trend in global equities. Sensex ended 174.29 points or 0.33 per cent higher at 52,474 and Nifty rose 61 points or 0.39 per cent to its lifetime peak of 15,799.

In early trade, Sensex zoomed 341 points to scale a record high of 52,641 against previous close of 52,300. Nifty rose 98 points to lifetime high of 15,835 against previous close of 15,737.

Dr Reddy's was the top Sensex gainer rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries.

On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the losers falling up to 0.80%. 

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Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said, "Markets are expected to monitor the spread of monsoon in the coming weeks, daily new case count and easing of lock down restrictions. High inflation globally and firm crude oil prices are some concerns areas. FPIs have remained net buyers, month to date, to the tune of Rs.4769 cr underpinned by steady decline in Covid-19 cases in India and decent GST collections in April. We expect FPI flows to India, in the medium term, to remain strong as India is at a cusp of growth revival path."

Of 30 Sensex stocks, 16 closed in the red.

Market capitalization rose to a record high of Rs 231.11 lakh crore on BSE.

Market breadth was positive with 1,776 shares rising against 1410 closing lower on BSE. 140 stocks were unchanged.

Sensex, Nifty scale all-time high: Five factors that fuelled the rally today

Vinod Nair, Head of Research at Geojit Financial Services said, "Along with easing restrictions and declining covid cases, the statement released by the Department of Economic Affairs stating that the economic impact of covid second wave will most likely be restricted to Q1FY22 also helped in improving domestic outlook."

BSE mid cap and small cap indices rose 32 points and 100 points, respectively.

Metal and information technology stocks led the rally  with their BSE indices rising 603 points and 414 points, respectively.

Elsewhere in Asia, bourses in Shanghai and Tokyo were in the red, while Hong Kong and Seoul ended on a positive note.

Equities in Europe were largely trading with gains in mid-session deals. International oil benchmark Brent crude was trading 0.22 per cent higher at $72.68 per barrel.

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