Sensex, Nifty close at record highs as many States ease lockdowns

Our Bureau Mumbai | Updated on June 07, 2021

Covid-19 vaccination policy pumped optimism into the market, says Vinod Nair, Head of Research, Geojit Financial Services

Benchmark indices hit record highs on Monday as several States announced the lifting of lock-downs in a phased manner. The expectation of a nationwide vaccine programme by the Government also inspired the bulls to take charge in the second half of the session.

Firm through out the day

The market opened on a positive note, extending gains through the day, with energy, utilities, and power stocks leading the rally. A declining trend in Covid-19 cases and unlock measures by States lifted investor sentiments.

The BSE Sensex. which is just 200 points away from it’s all time high of 52516.76, closed at 52,328.51, up 228.46 points or 0.44 per cent. It hit an intra-day high of 52,378.69 and a low of 52,054.76. The Nifty 50 recorded a fresh closing high of 15,751.65, up 81.40 points or 0.52 per cent. It also recorded a new all-time high of 15,773.45.

The breadth of the market remained positive with 2,325 stocks advancing, 990 declining and 159 remaining unchanged on the BSE. In all, 668 stockshit the upper circuit and 198 the lower circuit; 564 hit their 52-week high while 35 their 52-week low.

Binod Modi, Head Strategy at Reliance Securities, said, “Domestic equities extended gain with benchmark Nifty recording fresh all time high as sharp decline in daily case load and States started easing business curb lifted sentiments.”

Gainers, losers

Adani Ports, Power Grid, NTPC, Tata Motors and Ultratech Cement were the top gainers on the Nifty 50 while Bajaj Finance, Bajaj Finserv, HDFC, Divi’s Lab and Cipla were the top laggards.

Vinod Nair, Head of Research at Geojit Financial Services, said, “Domestic equities extended its gains in today’s volatile session ahead of PM Modi’s address to the nation. Hopes of easing restrictions and Centre’s Covid-19 vaccination policy pumped optimism into the market.”

Published on June 07, 2021

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