Sensex Tops 60,000 For First Time, Nifty Above 17,900 Led By Infosys

Indian markets close sharply higher amid easing geopolitical tensions

By Administrator_India

Capital Sands

The Indian equity benchmarks surged to new all-time highs on Friday wherein the BSE benchmark index – S&P BSE Sensex crossed 60,000-mark for the first time and Nifty moved above its important psychological level of 17,900 led by gains in Infosys, HDFC Bank, Tata Consultancy Services, ICICI Bank, HCL Technologies and Larsen & Toubro amid positive global cues. The Sensex rose as much as 427 points to hit record high of 60,312.51 and Nifty 50 index touched an all-time high of 17,947.

As of 9:25 am, the Sensex was up 278 points at 60,163 and Nifty 50 index advanced 109 points to 17,932.

Overnight, world stock markets rallied on Thursday and the U.S. dollar retreated from one-month highs as worries faded about contagion from China Evergrande and as investors digested the Federal Reserve’s plans for reining in US stimulus.

On Wall Street, the Dow Jones Industrial Average rose 506.5 points, or 1.48 per cent, to 34,764.82, the S&P 500 gained 53.34 points, or 1.21 per cent, to 4,448.98 and the Nasdaq Composite added 155.40 points, or 1.04 per cent, to 15,052.24.

Back home, nine of 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Information Technology index’s 2.5 per cent gain. Nifty Bank, Pharma, Financial Services and Private Bank indices were also trading higher.

Author: Administrator_India

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