Stock markets today: The domestic benchmark indices, S&P BSE Sensex and NSE Nifty, settled at fresh closing peaks on Friday (July 14), owing to heavy buying in IT counters and fresh foreign fund inflows. The 30-share BSE Sensex jumped 502.01 points, or 0.77 per cent, to settle at its new all-time closing high of 66,060.90. It was the first time that the BSE's headline index closed above the crucial 66,000 mark. Optimism in global equity markets also helped equities maintain their winning momentum for a second day. During the day, Sensex rallied 600.9 points, or 0.91 per cent to hit its all-time intra-day peak of 66,159.79.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The NSE Nifty went up by 150.75 points, or 0.78 per cent to end at a new record high of 19,564.50. During the day, it reached its lifetime intra-day peak of 19,595.35, registering a jump of 181.6 points, or 0.93 per cent.

From the Sensex pack, Tata Consultancy Services jumped over 5 per cent and Tech Mahindra rallied 4.51 per cent. Infosys, HCL Technologies, Wipro, Tata Steel, Nestle, Asian Paints, Larsen & Toubro, and Hindustan Unilever were also among the major gainers. On the other hand, Mahindra & Mahindra, Power Grid, Titan, Maruti, UltraTech Cement, NTPC, and Axis Bank were among the laggards.

In Asian markets, Seoul, Shanghai, and Hong Kong ended in the green, while Tokyo settled lower. Equity markets in Europe were trading mostly with gains. The US markets ended in positive territory on Thursday. The wholesale price-based inflation rate declined to (-) 4.12 per cent in June on easing prices of food, fuel, and manufactured items. Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth Rs 2,237.93 crore after a day's breather, according to exchange data.

"The controlled inflation in the US has instilled optimism among investors that a 25-bps rate hike would be adequate to stabilise the US economy. This improved prospect has contributed to the strong buying of Indian IT stocks despite muted Q1 earnings. "Moreover, the broad-based rally in the domestic market was supported by India's consecutive third-month decrease in wholesale prices, along with the positive involvement of FIIs," said Vinod Nair, Head of Research at Geojit Financial Services.

With inputs from PTI

For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.