Mid-day trade: Sensex climbs to a new high of 84,508, Nifty notches 25,800 levels for first time; ICICI Bank up 2%
After record highs scaled in the US markets in the overnight trade, Indian equities showed remarkable rally to hit a new high today.
Indian equities in Friday's trade (September 20) hit a record high mirroring record gains internationally. In the mid-hour trade, Nifty after notching fresh peak of 25,804.85 traded higher by 1.4 per cent at 25,768, while the 30-share Sensex benchmark was up 1.5 per cent or 1178 points at 84,368. In intra-day trade, Sensex notched a new peak of 84,508.36.
Meanwhile, the high-beta index Bank Nifty also marked a new high after 78 sessions amid run-up in private banking majors including ICICI Bank, HDFC Bank and Kotak Bank among others.
Furthermore, broader markets that took a beating in the previous day's trade were up today, with both Nifty Midcap 100 and Nifty Smallcap 100 indices up over 1 per cent each.
Even as India Inc's fundamentals hold good, the latest rate cut cycle will boost liquidity in the global markets and result in foreign funds into emerging economies including India.
Sectorally, even as there is seen broad-based buying action, metal and auto packs emerged as the top sectoral gainers, with both indices gaining over 2 per cent.
Meanwhile, European indices traded lower following gains in the previous day's session. Germany's DAX led the losses down over 0.8 per cent at the last count.
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01:17 PM IST