Mumbai: It was a historic day for Indian equity indices on Friday as Sensex, Nifty, and Nifty Bank closed at an all-time high.
At closing, Sensex was up 1,359 points, or 1.63 per cent, at 84,544 and Nifty was up 375 points, or 1.48 per cent, at 25,790. Nifty Bank was up 755 points, or 1.42 per cent, at 53,793.
Intraday, all three benchmark indices made a new all-time high of 84,694, 25,849 and 54,066 respectively.
Buying was also seen in the midcap and smallcap stocks.
The Nifty midcap 100 index settled at 60,208, up 856 points or 1.44 per cent and the Nifty smallcap 100 index closed at 19,332, up 187 points or 0.98 per cent.
Twenty-six out of 30 stocks in the Sensex pack closed in the green.
M&M, JSW Steel, ICICI Bank, L&T, Bharti Airtel, Nestle, HUL, HDFC Bank, Tech Mahindra, Maruti Suzuki, and Kotak Mahindra Bank were the top gainers. SBI, IndusInd Bank, TCS, and Bajaj Finance were the top losers.
Almost all sectoral indices closed in the green. Auto, IT, fin service, pharma, metal, realty, FMCG and energy were major gainers.
Krishna Appala, Senior Research Analyst at Capitalmind Research said: “Indian markets hit an all-time high as they cheered the Fed’s rate cut. The Nifty rose 1.2 per cent this week, with Bank Nifty being the best performer, up 2.5 per cent and also reaching an all-time high.”
“Initially, the reaction followed a typical ‘buy the rumour, sell the news’ pattern, but within a day, the market resumed its upward trend, hitting an all-time high. This is positive for the long term, particularly for sectors like Financials, Pharma, and IT, where we expect demand to pick up,” he said.
The Indian equity market opened on a positive note. At 9:46 a.m., Sensex was up 82 points or 0.10 per cent at 83,267 and Nifty was up 40 points or 0.16 per cent at 25,455.
–IANS