Bulls take markets at breathtaking highs; Sensex crosses over 61,150 first time, Nifty 50 nears 18,300; L&T, SBI, Tech Mahindra, Infosys top bulls

Sensex has touched a new 52-week high of 61159.48 and Nifty 50 has scaled to a fresh high of 18,294.75.

Oct 14, 2021 09:10 IST India Infoline News Service

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Dometic markets at new historic highs on Thursday's trade with Sensex and Nifty 50 are trading at new record levels amid broad-based buying across sectors. The upside was led by IT stocks that outperformed counterparts across indicators after companies like Infosys, Wipro and Mindtree announced their September 2021 (Q2FY22) earnings. The performance also comes during the day of the weekly F&O expiry. Apart from corporate results, investors also gauge the durability of economic recovery amid inflation pressures.

In the opening bell, Sensex neared 61,160, while Nifty 50 raced towards 18,300.

At around 09.34 am, Sensex was trading at 61,068.98 higher by 331.93 points or 0.55%. Nifty 50 performed at 18,269.65 up 107.90 points or 0.59%.

Sensex has touched a new 52-week high of 61159.48 and Nifty 50 has scaled to a fresh high of 18,294.75.

In terms of sectoral indices, on BSE, IT outperformed by soaring nearly 996 points so far today. Meanwhile, Realty and Capital Goods indexes surged by 1.5% each, where the Metal index also contributed with more than 1% upside.

Sensex gainers were - L&T jumped 2.2%, while SBI and Tech Mahindra climbed 1.7% each. Infosys zoomed 1.6%. HDFC Bank and ITC soared more than 1% each.

Sensex bears were - TCS tumbling 1% followed by HCL Tech and IndusInd Bank plunging 0.5% each.

Stocks like HCL Technologies, Indiabulls Real Estate, Benares Hotels, Century Textiles, Cyient, Den Networks, Ganesh Housing Corporation, GTPL Hathway, Inox Wind, Inox Wind Energy, Mahindra CIE Automotive, Radhe Developers, Superior Finlease, Vikas EcoTech, and Vikas Lifecare - will be in focus ahead of their Q2 results today.

On the global front, Asian stocks traded broadly higher with Japanese and BSE Sensex shares outshining. Nikkei 225 advanced over 400 points. Australia's S&P/ASX and South Korea's KOSPI also climbed over 1% each. Moreover, China's Shanghai Composite traded marginally up. On the other hand, Hong Kong's Hang Seng was the top laggard plunging over 360 points.

Traders reacted to China’s inflation data for September. The country's consumer price index increased 0.7% in September 2021. Chinese stocks have seen some consolidation at lower levels and earnings will now chart the course in the near term.

Overnight, on Wall Street, US markets close flat with Dow Jones seeing a fall of over 260 points intraday before recovering to close flat even as Nasdaq closed higher by 100 points. Bond yields fall to 1.53% which hurts banks while technology stocks rise on falling yields. US$ index also sees profit booking which sees emerging market stocks do well.

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