Sensex breaches 78k level for 1st time, Nifty settles at new all-time high

Benchmark Sensex breached the historic 78,000 level for the first time while Nifty settled at a new record high on Tuesday on buying in blue-chip bank stocks and Reliance Industries amid firm trends in Asian markets.
Bombay stock exchange
Bombay stock exchange

Mumbai | Benchmark Sensex breached the historic 78,000 level for the first time while Nifty settled at a new record high on Tuesday on buying in blue-chip bank stocks and Reliance Industries amid firm trends in Asian markets.

The 30-share BSE Sensex jumped 712.44 points or 0.92 per cent to settle at a new closing peak of 78,053.52. During the day, the benchmark soared 823.63 points or 1 per cent to hit a fresh lifetime high of 78,164.71.

The Nifty went up by 183.45 points or 0.78 per cent to settle at a record closing peak of 23,721.30. During the day, it climbed 216.3 points or 0.91 per cent to hit a new all-time high of 23,754.15.

Among the 30 Sensex companies, Axis Bank, ICICI Bank, HDFC Bank, Tech Mahindra, Larsen & Toubro, Bajaj Finserv, State Bank of India, Reliance Industries and Infosys were the biggest gainers.

Power Grid, Asian Paints, Tata Steel, Nestle, Maruti and JSW Steel were among the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong settled higher while Shanghai ended lower.

European markets were trading in the negative territory. US markets ended on a mixed note on Monday.

India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday.

This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode.

"A positive news from the market perspective is the current account turning surplus in Q4 FY24. This will take away the pressure on the rupee and pave the way for FII inflows when clarity emerges on the Fed rate cuts," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.44 per cent to USD 85.63 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 653.97 crore on Monday, according to exchange data.

The BSE benchmark ended 131.18 points or 0.17 per cent higher at 77,341.08 on Monday. The Nifty went up 36.75 points or 0.16 per cent to settle at 23,537.85

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