Sensex, Nifty hit fresh all-time high levels in early trade

Equity benchmark indices Sensex and Nifty hit their new all-time high levels during early trade. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty hit their new all-time high levels during early trade on Friday (August 30, 2024), amid the ongoing bullish rally in domestic stocks, tracking firm trends in Asian markets and fresh foreign fund inflows.

The 30-share BSE Sensex jumped 502.42 points to hit a fresh all-time high of 82,637.03 in early trade. The NSE Nifty surged 105.7 points to hit a new record peak of 25,257.65.

Among the 30 Sensex firms, Bajaj Finserv, HDFC Bank, Titan, Bajaj Finance, NTPC, Power Grid, Asian Paints and HCL Technologies were the biggest gainers.

Tata Motors and Sun Pharma were the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains.

The U.S. markets ended on a mixed note on Thursday (August 29).

Foreign Institutional Investors (FIIs) bought equities worth ₹3,259.56 crore on Thursday, according to exchange data.

Domestic Institutional Investors also bought equities worth ₹2,690.85 crore.

“Continuation of accumulation of quality largecaps by the DIIs (Domestic Institutional Investors) and HNIs and the FIIs reducing their selling significantly and buying on certain days have contributed to the resilience of the market,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.23% to $80.12 a barrel.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, that key catalysts for markets rally include substantial FII buying, positive global cues, and upbeat U.S. GDP data.

The BSE benchmark jumped 349.05 points or 0.43% to settle at an all-time closing high of 82,134.61 on Thursday, extending its winning momentum to the eighth day in a row.

Rallying for the 11th straight session, the Nifty surged 99.60 points or 0.40% to settle at a new closing high of 25,151.95.