FINAL TRADE: Record closing highs on D-Street; Sensex jumps 621 pts to 78,674, Nifty reaches 23,869

Stock market today: Stock market benchmark indices Sensex and Nifty hit their fresh all-time closing highs on Wednesday, June 26 in-tandem with a rally in global peers and buying in oil & gas, and telecommunication stocks.

The 30-share BSE Sensex climbed 620.73 points or 0.8 per cent to hit a new all-time closing high of 78,674.25 after scaling an all-time high of Rs 78,759.4. The Nifty went up by 147.5 points or 0.62 per cent to hit the fresh record peak of 23,868.8 after scaling an all-time high of Rs 23,889.9 during the trade.

Among the 50 Nifty companies, Reliance Industries, Bharti Airtel, UltraTech Cement, Grasim, and Britannia were the biggest gainers. Apollo Hospitals, Mahindra & Mahindra, Bajaj Auto, Tata Steel, and Hindalco were among the laggards.

"The domestic market hit a new peak, bolstered by a rally in large-cap stocks, where the valuation is relatively fair. In contrast, mid-and small-cap stocks saw profit-taking due to valuation concerns," Vinod Nair, Head of Research, Geojit Financial Services said.

"Currently, the financials & consumption stocks are catching up driven by improved balance sheets, a strong GDP growth forecast, and softening inflation. Global market sentiments reflected similar trends, with a consensus on imminent rate cuts," he said.

The domestically focussed Nifty SmallCap100 was up 0.25 per cent, while Nifty MidCap100 settled 0.22 per cent lower, respectively.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank finished 0.5 per cent or 264.5 points lower at 52,870.5.

Global Market

European stock markets were higher on Wednesday as the market braced for a French election and a key US inflation reading. Last seen, the pan-European STOXX 600 was up 0.17 per cent.

(With agency inputs)

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