Nifty and Sensex Hit Record Highs, Investor Wealth Soars Rs 2.5L Cr

BSE Sensex Surges Over 700 Points, Hits 72,463.99; NSE Nifty Gains 200 Points, Trades Above 21,848.20

Nifty Hits Record High, Sensex Surges Over 700 Points, Investor Wealth Soars Rs 2.5L Cr

Indian stocks witnessed a robust afternoon rally on Friday, driven by gains in the technology sector and state-owned lenders.

The BSE Sensex surged over 700 points, surpassing 72,463.99, while the NSE Nifty gained around 200 points, trading above 21,848.20.

This rally generated over Rs 2.5 lakh crore in BSE market capitalization. Key heavyweights like Infosys, TCS, ICICI Bank, Reliance Industries, HCL Tech, and SBI contributed to the upward momentum.

The market rise today is reflected in the following key numbers:

1. Investor Wealth Increase: The BSE market capitalization indicates that investor wealth rose by Rs 2.5 lakh crore, reaching Rs 372.98 lakh crore. This is compared to the valuation of Rs 370.47 lakh crore recorded the previous day.
2. 52-Week High Levels: A significant number of stocks, specifically 477, hit their 52-week high levels today. Among the BSE 500 stocks, notable ones include Abbott India, Amber, Alembic Pharmaceuticals, Apollo Hospitals, Avanti Feeds, Bank of India, BBTC, Bikaji, BLS, Birlasoft, Coforge, and DLF.
3. 52-Week Low Levels: Contrarily, only 6 stocks touched their respective 52-week low levels today, indicating a predominant bullish sentiment in the market.

Market statistics for the given period:

• Advancing Stocks: 2,212 out of 3,870
• Declining Stocks: 1,543 out of 3,870
• Unchanged Stocks: 115 out of 3,870

This indicates a majority of advancing stocks, some declining stocks, and a few remaining unchanged.

Several stocks witnessed significant jumps, with notable performances by Avanti Feeds, Firstsource Solutions, Infibeam Avenues, Infosys, Sonata Software, Eclerx, IRFC, Union Bank, Vaibhav Global, and Bank of India, surging as much as 14.80%.

Technology (IT) and Public Sector Undertaking (PSU) banks emerged as the top gainers. For the Sensex, the major contributors that propelled the index higher included Infosys, TCS, ICICI Bank, Reliance Industries, HCL Tech, State Bank of India (SBI), Wipro, and Bharti Airtel.

Notably, the combined positive contributions from Infosys (Infy), TCS, ICICI, and Reliance played a significant role in the overall gain, contributing to the approximately 643-point climb in the Sensex.

On the National Stock Exchange (NSE), 11 out of the 15 sub-indices were observed to be trading in positive territory. Notably, Nifty IT and Nifty PSU Bank outperformed the overall NSE index, registering impressive gains of 5.03% and 2.42%, respectively. However, the Nifty Auto sub-index experienced a decline, slipping by 0.51%.

1. FIIs Activity: Foreign institutional investors (FIIs) were net sellers of shares, amounting to Rs 865 crore. This indicates that, on a net basis, FIIs sold more stocks than they bought during the mentioned session.
2. DIIs Activity: On the other hand, domestic institutional investors (DIIs) were net buyers of stocks, purchasing Rs 1,607.08 crore worth of shares. This suggests that DIIs, on a net basis, acquired more stocks than they sold in the given session.