Markets at new peak: Sensex surges 663 points to hit record closing; Nifty settles at fresh high of 17,132 – Times of India

NEW DELHI: Equity indices jumped to record highs in yet another session on Tuesday with the benchmark BSE sensex rising over 650 points led by gains in metal, IT stocks as investors await gross domestic product (GDP) data release.
After hitting a lifetime high of 57,625, the 30-share BSE index soared 663 points or 1.16 per cent to finish at record high of 57,552. While the broader NSE Nifty settled 201 points or 1.19 per cent up at fresh peak of 17,132.
Bharti Airtel was the top gainer in the sensex pack rising nearly 7 per cent to hit its 52-week high after its founder said that the wireless carrier wanted to improve access to growth capital and reduce debt leverage, a day after it announced plans to raise up to Rs 21,000 crore.
Bajaj Finance, Bajaj Finserv, Asian Paints, Titan and TCS were the other gainers rising as much as 4.94 per cent.
Whereas, NestleIndia, IndusInd Bank, Reliance and PowerGrid were the only losers falling up to 1.29 per cent.
On the NSE platform, sub-indices Nifty Metal, Consumer Durables and Financial services gained up to 1.19 per cent.
The BSE index has now sored over 4,000 points so far this month as the markets continue to rally.
The market capitalisation of BSE-listed companies jumped to an all-time high of Rs 2,48,34,296 crore in morning trade.
“After a run-up in the market, it should take a breather and then take cues from global markets. A consolidation is long overdue, which should happen,” Neeraj Dewan, director at Quantum Securities told news agency Reuters.
India is set to release its quarterly GDP data for the period April-June 2021 later in the day.
“A distinguishing feature of this bull market which started in April 2020, is that it has been remarkably stable without any major correction,” V K Vijayakumar, chief investment strategist at Geojit Financial Services told news agency PTI.
Meanwhile, foreign institutional investors (FIIs) turned net buyers in the capital market as they purchased shares worth Rs 1,202.81 crore on Monday, as per provisional exchange data.
(With inputs from agencies)