Sensex breaches 79,000 mark, Nifty scales 24,000 peak in record-breaking rally

Benchmark Sensex breached the historic 79,000 mark while Nifty scaled the historic 24,000 peak for the first time on Thursday as buying in blue-chip stocks like Infosys, Reliance and TCS helped markets extend gains to the fourth straight day and close at lifetime high levels.
Bombay stock exchange
Bombay stock exchange

Mumbai | Benchmark Sensex breached the historic 79,000 mark while Nifty scaled the historic 24,000 peak for the first time on Thursday as buying in blue-chip stocks like Infosys, Reliance and TCS helped markets extend gains to the fourth straight day and close at lifetime high levels.

The 30-share BSE Sensex jumped 568.93 points or 0.72 per cent to settle at a new closing peak of 79,243.18. During the day, it zoomed 721.78 points or 0.91 per cent to hit the new lifetime peak of 79,396.03.

The Nifty ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74 per cent. Intra-day, it soared 218.65 points or 0.91 per cent to hit the all-time peak of 24,087.45.

Among the 30 Sensex companies, UltraTech Cement jumped over 5 per cent after the country's leading cement maker said it will acquire a 23 per cent stake in its Chennai-based rival India Cements Ltd, in a deal estimated to be around Rs 1,885 crore.

Gains in Infosys, TCS and Reliance Industries drove the benchmark indices to record-high levels.

NTPC, JSW Steel, Tata Motors, Bharti Airtel, Power Grid, Kotak Mahindra Bank and Tech Mahindra were also among the major gainers.

Larsen & Toubro, Sun Pharma, Nestle, HDFC Bank and Maruti were among the laggards.

Analysts said most sectors recorded gains, with IT and energy among the top gainers. Broader indices showed mixed results as midcap index closed in the green while smallcap index lost over half a per cent.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower. European markets were trading on a mixed note. US markets ended in positive territory on Wednesday.

Foreign institutional investors (FIIs) offloaded equities worth Rs 3,535.43 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.84 per cent to USD 85.97 a barrel.

The BSE benchmark climbed 620.73 points or 0.80 per cent to settle at a new closing peak of 78,674.25 on Wednesday. The Nifty went up by 147.50 points or 0.62 per cent to settle at a record closing peak of 23,868.80.

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