Sensex rises 222 points to hit fresh closing high; Nifty ends at 15,869 – Times of India

NEW DELHI: Equity indices scaled fresh closing peaks on Tuesday with the benchmark BSE sensex rising over 200 points led by gains in banking and realty stocks.
The 30-share BSE index rose 222 points or 0.42 per cent to close at fresh high of 52,773; while the broader NSE Nifty settled 57 points or 0.36 per cent higher at new record of 15,869.
Top gainers in the sensex pack included Asian Paints, Axis Bank, ICICI Bank, HUL, Infosys and HDFC Bank with their shares rising as much as 2.95 per cent.
Whereas Bajaj Finserv, Titan, Dr Reddy’s, Bajaj Finance and Sun Pharma and L&T were the major losers falling up to 1.05 per cent.
On the NSE platform, sub-indices Nifty Media, Private Bank, Realty and Bank gained up to 2 per cent.
“Globally, there is an upbeat mood on asset prices and we are also moving along with that. The sentiment (for India) is primarily driven by both benign liquidity conditions and optimism that the economy will open up,” Samrat Dasgupta, chief executive of Esquire Capital Investment Advisors told news agency Reuters.
On the macro-economic data front, rising prices of edible oils and protein-rich items pushed the retail inflation to a six-month high of 6.3 per cent in May, breaching the comfort level of the Reserve Bank and thus rendering reduction in interest rates a difficult proposition in the near term.
The wholesale price-based inflation (WPI) accelerated to a record 12.94 per cent in May, on account of rising prices of crude oil, manufactured goods and a low base of last year. In May last year, WPI inflation was (-) 3.37 per cent and in April 2021, WPI inflation hit double-digit at 10.49 per cent.
Besides, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 503.51 crore on Monday, as per provisional exchange data.
Meanwhile, broader Asian markets tracked overnight gains on Wall Street, with investors looking to a much-anticipated Federal Reserve policy meeting.
(With inputs from agencies)