Sensex, Nifty scale new lifetime highs on FII buying

July 17, 2023 16:56

SBI rose by 2.82 per cent

Benchmark Sensex and Nifty rallied for a third day in a row to close at fresh lifetime high levels on Monday following buying in banking and oil stocks and FII inflows.

Analysts said the first quarter results by Indian companies have been mostly in line with expectations, triggering a rally in local equities despite mixed global cues.

The 30-share BSE Sensex jumped 529.03 points or 0.80 per cent to settle at its new all-time closing high of 66,589.93. During the day, it climbed 595.31 points or 0.90 per cent to hit its lifetime intra-day peak of 66,656.20. As many as 18 Sensex shares closed in the green while 12 declined. The NSE Nifty also soared by 146.95 points or 0.75 per cent to close at a new record high of 19,711.45. During the day, it rallied 167.35 points or 0.85 per cent to its record intra-day high of 19,731.85.

From the Sensex pack, State Bank of India rose the most by 2.82 per cent. Gains in Wipro, Reliance Industries, HDFC Bank, Kotak Mahindra Bank and IndusInd Bank helped the index closed at record levels. HDFC Bank climbed 2 per cent after the company reported a 29.13 per cent jump in consolidated net profit for the June quarter at Rs 12,370.38 crore. Tata Motors, Bharti Airtel, Titan and JSW Steel were among the laggards.

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