Sensex Hits Fresh All-Time High, Nifty Registers Record Close

Sensex Hits Fresh All-Time High, Nifty Registers Record Close

The Sensex reached a new high on June 21, breaking above the 63,583.1 mark set on December 1, 2022. The index witnessed heavy buying in Reliance Industries and Power Grid Corporation. The Nifty 50 registered a record closing at 18,856.85.

On Wednesday, the blue-chip index began at 63,467.46, reaching an intraday high of 63,588.31 and a low of 63,355.95. According to market data, foreign institutional investors sold securities worth ₹1,942.62 crore a day before.

Trade analysts attributed the record gains to sustained foreign inflows into domestic stock markets, supported by strong macroeconomic factors that have helped India set on the path to become the fastest-growing economy this year.

The 30-share Sensex has gained over 4 percent this year and is the first among Asian equities to hit a fresh record high.

Most of the sectoral indices gained last week, powered by heavyweights Nifty Banking, Nifty Financial Services and Nifty IT. Nifty FMCG, Nifty Realty and Nifty Metal were the sectoral indices that ended in negative territory.

The top five gainers on the Nifty 50 were Power Grid Corporation, ONGC, Adani Ports, HDFC Bank and HDFC. On the other hand, JSW Steel, Hindalco, Divi’s Laboratories, M&M and ITC were the biggest losers.