Sensex jumps over 150 points to fresh high; Nifty crosses 15,900

PTI Mumbai | Updated on June 28, 2021

Sharp fall in daily caseload, ramp-up in vaccination overshadow worries related to higher crude prices, weakening rupee

Equity benchmarks Sensex and Nifty scaled fresh intra-day records in opening trade on Monday, tracking gains in heavyweights Reliance Industries, ICICI Bank and HDFC.

After touching a lifetime high of 53,126.73, the 30-share BSE index was trading 142.85 points or 0.27 per cent higher at 53,067.89 in initial deals.

Also read: Asian shares kick-off week on cautious note as Covid-19 cases spike

Similarly, the broader NSE Nifty was trading 42.25 points or 0.27 per cent higher at 15,902.60. It touched a lifetime intra-day peak of 15,915.65 in the opening session.

Asian Paints was the top gainer in the Sensex pack, rising over 1 per cent, followed by Dr Reddy’s, NTPC, Axis Bank, Sun Pharma, Kotak Bank, ICICI Bank and Reliance Industries.

On the other hand, Titan, TCS, UltraTech Cement, Bharti Airtel and L&T were among the laggards.

In the previous session, the 30-share index Sensex closed 226.04 points or 0.43 per cent higher at a record 52,925.04, and Nifty advanced 69.90 points or 0.44 per cent to 15,860.35.

Foreign institutional investors (FIIs) were net sellers in the capital market offloading shares worth ₹678.84 crore on Friday, as per provisional exchange data.

According to Binod Modi, Head-Strategy at Reliance Securities, domestic markets look modestly good as of now.

“A sharp fall in daily caseload and satisfactory ramp-up in the vaccination process overshadowed concerns emerging from higher crude prices and weakening rupee,” he said, adding that better-than-expected Q4 FY21 earnings performance of companies has also supported the market’s uptick.

Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo were trading with losses in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.17 per cent lower at $75.25 per barrel.

Published on June 28, 2021

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