Sep 26, 2024 10:03 AM IST
Sensex and Nifty reach new all-time highs as Asian markets rally. Major gainers include IT stocks, while FIIs offload equities amid domestic buying.
Sensex and Nifty hit fresh all-time high levels in early trade amid a sharp rally in Asian markets and buying in IT stocks. The BSE Sensex climbed 202.3 points to reach an all-time record peak of 85,372.17 in early trade. The NSE Nifty went up 51.85 points to hit a fresh lifetime high of 26,056.
Major gainers and losers today
From the 30 Sensex firms, Maruti, Nestle, Tata Motors, Infosys, Tech Mahindra, HCL Technologies, Bajaj Finserv, Tata Consultancy Services, ITC, and Bharti Airtel were the biggest gainers. Power Grid, NTPC, Tata Steel, and JSW Steel were among the laggards.
What about global markets
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading with significant gains. The US markets ended mostly lower on Wednesday.
A look at FIIs and DIIs
Foreign Institutional Investors (FIIs) offloaded equities worth ₹973.94 crore on Wednesday while Domestic Institutional Investors (DIIs) were buyers as they bought equities worth ₹1,778.99 crore, as per exchange data.
Expert view on stock market
“There are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs who are likely to move some more money to China and Hong Kong since these markets are cheap and are witnessing an uptrend now,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. But FII selling is unlikely to push the market down significantly since the ample domestic liquidity can easily absorb such selling, Vijayakumar said.