The benchmark indices on Tuesday hit a fresh record high intraday, led by information and technology stocks along with banking and financials, amid mixed global cues.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The BSE Sensex jumped over 350 points to touch 54,772 levels, while Nifty50 surged more than 90 points to hit 16359-mark on Tuesday intraday trade. After Friday’s pause, Sensex, Nifty50 are soaring since the last week with both of them crossing important levels of 54000 and 16000 respectively.

See Zee Business Live TV Streaming Below:

Today’s surge is mostly led by information and technology stocks, as the Nifty IT Index alone grew by around 1 per cent intraday, with Tech Mahindra gaining over 2.5 per cent and has also hit its new 52-week high today to Rs 1325 per share on the BSE intraday trade.

While another heavyweight Bharti Airtel, which was the top gainer at around 12:50 pm on the Nifty index, touched a new 52-week high of Rs 628 per share, after rallying over 4 per cent on the BSE intraday trade today.

Similarly, Kotak Bank, Mahindra and Mahindra, HDFC, Wipro, and Reliance Industries are also fuelling the benchmarks to surge to life high levels. On the contrary, Shree Cement retains its top laggard position, declining around 3.5 per cent intraday, followed by Power Grid down 1.7 per cent today.

In the broader market space, the BSE MidCap and SmallCap indices underperforming as compared to benchmarks, gained up to 0.2 per cent intraday trade today, while Nifty Bank has been playing an important role to keep the Nifty index up, by surging over 0.5 per cent, above 36100 intraday today.

While sectoral indices that being a hindrance in the markets further surge are Nifty Metal and FMCG, both down 0.4 and 0.3 per cent respectively, While Mid and small caps underperforming because of the cracks in realty, media, and PSU bank stocks.