Nifty, Sensex Close at Record Highs; Investors Richer by Rs 2.16 Lakh Crore

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Nifty, Sensex Close at Record Highs; Investors Richer by Rs 2.16 Lakh Crore
Credit: © Reuters.

By Aditya Raghunath -- After a slow start in early trade today, Nifty 50 and the BSE Sensex 30 closed very strongly at record highs. Nifty closed up 0.8% at 17,519 while the Sensex closed up 0.82% at 58,723.

Low inflation data from the US was a major factor behind the upsurge today. Equity investors gained Rs 2.16 lakh crore. Top Nifty gainers were NTPC Ltd (NS: NTPC ) at 7.46%, Bharti Airtel Ltd. (NS: BRTI ) at 4.8%, while Coal India Ltd (NS: COAL ) and Oil And Natural Gas Corporation Ltd (NS: ONGC ) gained over 3.8% each. Nifty Bank closed up 0.65% today.

FMCG stocks took a hit today with Tata Consumer Products Ltd (NS: TACN ) leading the losers on Nifty, closing down 0.95%, followed by Nestle India Ltd (NS: NEST ) at 0.55%. Grasim Industries Ltd (NS: GRAS ) closed 0.49% today.

Force Motors Ltd (BO: FORC ) closed up almost 6% after the company unveiled its new launch: Gurkha.

Asian markets closed mixed with Nikkei down 0.52%, Kospi up 0.15% and the Shanghai Composite down 0.17%.

US stock markets are set to open a touch higher, recouping some of Tuesday’s losses as a fresh rise in Covid-19 cases continued to cast doubt on the course of the recovery.

The impact of the delta variant wave was apparent in a 9% monthly drop in airfares in August, which contributed to inflation data coming in below expectations on Wednesday.

As of this report, Dow Jones 30 Futures were up 0.15%, while S&P 500 Futures were up 0.2% and Nasdaq 100 Futures were up 0.27%

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