BULL RUN CONTINUES! Sensex scales record closing, intra-day peaks; BSE-listed companies’ market valuation touches lifetime high

BULL RUN CONTINUES! Sensex scales record closing, intra-day peaks; BSE-listed companies’ market valuation touches lifetime high

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The continuing bull run in the equity market on Tuesday propelled Sensex to a fresh record closing level of 52,773.05 points and the 30-share index also touched a lifetime intra-day high.

Not just the record closing and intra-day levels for Sensex, the market capitalisation of BSE-listed companies also reached a lifetime high of Rs 2,31,58,316.92 crore on Tuesday.

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Sensex has surged for four straight trading sessions and during this period, the benchmark zoomed 831.41 points while investors’ wealth soared by Rs 3,73,268.03 crore.

On Tuesday, the index closed at 52,773.05, higher by 221.52 points or 0.42 per cent. During the day, it jumped 317.98 points to 52,869.51.

“Domestic equities remained firm and steady with benchmark indices recording fresh all-time highs. A rebound in financials, FMCG, and Reliance Industries supported the market today. Indian equities remained buoyant in the last couple of weeks aided by the withdrawal of business curbs by states and improved prospects of economic recovery,” Binod Modi, Head Strategy at Reliance Securities, said.

Asian Paints was the biggest gainer in the Sensex pack, rising over 3 per cent, followed by Axis Bank, ICICI Bank, Hindustan Unilever, and IndusInd Bank.

In contrast, Bajaj Finserv, Dr Reddy’s, Titan, Sun Pharma, Bajaj Finance, and PowerGrid were among the laggards.

“Benchmarks closed on a positive note with indices hitting a record high in today’s session amid other Asian peer gains,” Mohit Nigam, Head of PMS at Hem Securities, said.

In the broader market, the BSE midcap and smallcap closed with up to 0.60 per cent gains.

So far this year, Sensex has jumped 5,021.72 points or 10.51 per cent.

Sensex, the country’s first equity index, was launched in 1986. On July 25, 1990, it had closed above the 1,000-mark and it took nearly 16 years to cross the 10,000-level on February 7, 2006.
 



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