Sensex, Nifty At Fresh Life High Led By IT Stocks: Midday Market Update
As of 12:10 p.m., the Sensex rose 517 points, or 0.81%, to 64,432.06, while the Nifty 50 gained 140 points, or 0.74%, to 19,112.25
India's benchmark stock indices hit fresh record highs on Friday, led by gains in information technology and auto stocks.
The Sensex advanced 0.85% to scale a fresh lifetime high of 64,460.99, while the Nifty 50 rose 0.80% to hit a record high of 19,123.20.
Asian markets declined, trimming a first-half rally in global equities. Japanese stocks fell, Australia’s benchmark was steady, and shares in Hong Kong fluctuated. As the first half of 2023 passes, Japan’s Topix has ratcheted up a gain of more than 20%, while Chinese equities are in the red and Australian stocks have eked out a small increase.
U.S. futures were only marginally higher after the S&P 500 made a modest advance on Thursday, as traders adjusted their positions at the end of the quarter.
As of 12:10 p.m., the S&P BSE Sensex rose 517 points, or 0.81%, to 64,432.06, while the NSE Nifty 50 gained 140 points, or 0.74%, to 19,112.25.
HDFC Bank Ltd., Infosys Ltd., Mahindra and Mahindra Ltd., Sun Pharmaceutical Industries Ltd. and TCS Ltd. positively contributed to the changes in the Nifty 50.
While, Hindustan Unilever Ltd., ICICI Bank Ltd., ITC Ltd., Kotak Mahindra bank Ltd. and Reliance Industries Ltd. weighed on the index.
The broader market indices were trading higher, with the S&P BSE MidCap rising 0.50% and the S&P BSE SmallCap gaining 0.59% by midday trade on Friday.
Seventeen out of the 20 sectors compiled by BSE Ltd. advanced with S&P BSE Information Technology gaining the most, while S&P BSE Telecommunication, S&P BSE Utilities, and S&P BSE Services declined.
The market breadth was skewed in favour of the buyers. About 2,021 stocks rose, 1,315 declined and 167 remained unchanged on the BSE.
