Nifty Hits New Life Peak, Sensex Surpasses 66K, Maharatna PSUs Top Losers

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Nifty Hits New Life Peak, Sensex Surpasses 66K, Maharatna PSUs Top Losers

By Malvika Gurung -- Major Indian indices made a positive opening on Thursday, tracking a sharp uptick in Asian markets fueled by a softer-than-expected US June inflation data , raising bets of a less hawkish Federal Reserve stance going ahead.

The benchmark index Nifty50 scaled a new all-time high on July 13, 2023, surpassing the 19,560 mark at 19,566.65 points, while the 30-scrip Sensex also hit a new peak of 66,049.45 points in the session.

At 11 am, the gauge of India’s top 50 companies surged 0.87% to 19,552.05 levels, and Sensex jumped 0.93% or 607.14 points.

Over the past one-month period, the headlines Nifty50 and Sensex have increased significantly by 4.45% and 4.5%, respectively.

Gains across the domestic market were led by a rally in IT stocks, following the June quarter earnings results of India's top IT giants TCS (NS: TCS ) and HCL Tech (NS: HCLT ) on Wednesday. Also, IT behemoth Wipro (NS: WIPR ) is set to release its earnings for the June quarter on Thursday.

All the sectoral indices listed under the Nifty umbrella traded in the green, led by a 2.5% massive jump in Nifty IT , followed by Nifty Metal and Nifty Financial.

On the Nifty50 pack, Hindalco (NS: HALC ), TCS, Infosys (NS: INFY ), HDFC Life (NS: HDFL ), SBI Life (NS: SBIL ), and Tech Mahindra (NS: TEML ) led the rally, while Maharatna PSUs PowerGrid Corporation (NS: PGRD ) and Coal India (NS: COAL ) exerted pressure.

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