Markets hit new high: Sensex crosses 64,000-mark for first time; Nifty scales 19,000-peak in intra-day trade – Times of India

NEW DELHI: The benchmark equity indices reached historic levels, with the Sensex surpassing the significant 64,000 mark and the Nifty climbing above the 19,000 mark on Wednesday. This surge was fueled by a rally in the US and European markets and an influx of fresh foreign fund inflows.
The Sensex rose 499.39 points, or 0.79%, to settle at a lifetime high of 63,915.42 while the broader Nifty gained 154.70 points to end at a record 18,972.10.
Buying in market heavyweight stocks like Reliance Industries and HDFC Bank also aided the positive momentum.
Extending its previous day’s rally, the 30-share BSE Sensex jumped 621.07 points to hit its all-time high of 64,037.10 during afternoon trade.
The NSE Nifty climbed 154.70 points or 0.82 per cent to end at a record high of 18,972.10 points. During the day, it zoomed 193.85 points or 1 per cent to reach its lifetime intra-day high of 19,011.25 points.
“Nifty made a new all-time high on June 28, triggered by buying from institutions and retail/HNI segments. Improving US economic data and hints from China about fresh stimulus measures have helped improve sentiments,” said Dhiraj Relli, MD & CEO, HDFC Securities Ltd.
Foreign institutional investors (FIIs) bought equities worth Rs 2,024.05 crore on Tuesday, according to exchange data.
Twelve of the 13 major sectoral indexes rose, with financials climbing 0.54%.
Adani Enterprises, the top gainer on the Nifty, experienced a surge of over 5% following reports that GQG Partners and other investors acquired an additional stake worth approximately $1 billion in the conglomerate’s firms.
Index heavyweights HDFC and HDFC Bank continued their upward trajectory after announcing their plans to finalize the proposed merger on July 1.
However, compared to their global counterparts, the benchmarks appeared relatively expensive, according to Refinitiv data. Analysts cautioned that the market could undergo consolidation due to the still expensive valuations.