Smart hits All-Time High, crosses 20,000 points

The Nifty closed at a record high of 19,996.35 on Monday. (File)


The benchmark Sensex jumped 528 points to regain the 67,000 level, while the Nifty touched the 20,000 mark for the first time as robust buying by domestic investors helped equity markets extend the winning streak for the seventh consecutive session on Monday.

The successful G20 summit and acquisitions in index majors Reliance Industries and HDFC Bank also contributed to the winning momentum in equities.

The 30-share BSE Sensex regained the 67,000 level. The benchmark jumped 528.17 points, or 0.79 percent, to 67,127.08. During the day, it rose 573.22 points, or 0.86 percent, to 67,172.13.

Nifty touched its all-time high of 20,008.15, a gain of 188.2 points or 0.94 percent in intraday trade. The 50-issue barometer closed just below the 20,000 mark at 19,996.35, reflecting gains of 176.40 points or 0.89 percent.

“Nifty has finally managed to touch the much awaited 20,000 mark in the second attempt after July 2023. Robust flows from local investors amid mixed/negative flows from foreigners has helped Nifty reach this landmark.

“Recent successful achievements in space and foreign diplomacy by India have boosted sentiment for Indian equities in general in an era where the global situation remains shaky,” said Dhiraj Relli, MD & CEO, HDFC Securities Ltd.

Among the Sensex companies, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the top gainers.

Bajaj Finance and Larsen & Toubro were the laggards.

“Domestic markets started the day on a positive note, boosted by the historic consensus reached at the G20 summit, which instilled confidence among investors. Higher than expected loan growth data and strong profitability along with lower NPA in PSU banks attracted investor interest. .

“Additionally, expectations of easing inflation, driven by a fall in vegetable prices, fueled upbeat sentiment, leading to a market rally,” said Vinod Nair, head of research at Geojit Financial Services.

India scored a major diplomatic victory on Saturday after the G20 summit adopted a consensus statement overcoming major differences on the Russia-Ukraine war as Prime Minister Narendra Modi called for an end to “global trust deficit”.

Prime Minister Modi also announced the admission of the African Union as a permanent member of the G20.

In the Asian markets, Seoul and Shanghai ended with gains, while Tokyo and Hong Kong fell.

The European markets traded in the green. US markets ended in positive territory on Friday.

The global benchmark for oil Brent oil fell 0.23 per cent. at $90.35 per barrel.

The BSE benchmark had jumped 333.35 points or 0.50 percent to end at 66,598.91 on Friday. The broader Nifty advanced 92.90 points or 0.47 percent to settle at 19,819.95.

Foreign institutional investors (FIIs) offloaded stocks worth Rs 224.22 crore on Friday, according to stock exchange data.

(With the exception of the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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