Sensex, Nifty extend gains to scale fresh peaks on firm global cues

Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra and ITC were among the laggards. File
| Photo Credit: The Hindu

Equity benchmark indices Sensex and Nifty marched higher to scale fresh lifetime closing peaks on Friday (August 30, 2024), tracking a largely firm trend in global markets and renewed foreign fund inflows.

Buying in index majors Bharti Airtel, ICICI Bank and Infosys also fuelled the rally in equities.

Rallying for the ninth straight session, the 30-share BSE Sensex climbed 231.16 points or 0.28% to settle at an all-time closing high of 82,365.77. During the day, it jumped 502.42 points or 0.61% to hit a record intra-day peak of 82,637.03.

The NSE Nifty soared 83.95 points or 0.33% to hit a new lifetime closing high of 25,235.90, taking its victorious run to the 12th day in a row. During the day, it surged 116.4 points or 0.46% to hit a new record intra-day peak of 25,268.35.

Among the 30 Sensex firms, Bajaj Finance, Mahindra & Mahindra, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel and Tata Consultancy Services were the biggest gainers.

In contrast, Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra and ITC were among the laggards.

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

European markets were trading in positive territory. The U.S. markets ended on a mixed note on Thursday (August 29, 2024).

Foreign Institutional Investors (FIIs) bought equities worth ₹3,259.56 crore on Thursday, (August 29, 2024) according to exchange data.

Domestic Institutional Investors lapped up equities worth ₹2,690.85 crore.

“Continuation of accumulation of quality large-caps 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 0.08% to $80 a barrel.

The BSE benchmark jumped 349.05 points or 0.43% to settle at an all-time closing high of 82,134.61 on Thursday (August 29, 2024), 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.