Markets make new history; Sensex tops 61,200, Nifty 50 climbs over 18,300 first time; IT outperforms amid major Q2 results

Sensex has clocked a new 52-week high of 61216.26 and Nifty 50 crossed a new all-time high of 18,323.20.

Oct 14, 2021 12:10 IST India Infoline News Service

Market Going Up
The bulls only soared with wings that took Indian markets to cruise at levels never witnessed before. Both benchmarks Sensex and Nifty 50 have crossed 61,200 and 18,300 levels for the first time in history.

Buying across the broader indices led to the outperformance in domestic equities,  offsetting the mixed mood of the global markets with Wall Street closing on flats and Asian stocks trading higher except for Hang Seng that dipped more than 1.4% and mainland China which was marginally down but in red.

Traders appetite for equities is fueled with corporate earnings, festive season, durability of economic recovery, inflation pressures, central banks stance over stimulus, Covid-19 active cases and vaccination drive.

Also, a recent profit booking in the US dollar against a basket of currencies led equities to fair well. Further, contraction in bond yields also lifted the mood.

Notably, Sensex and Nifty 50 are trading at new heights on the day of the weekly F&O expiry.

At around 12.34 pm, Sensex was trading at 61,106.03 up 368.98 points or 0.61%. Nifty 50 performed at 18,294.55 zooming by 132.80 points or 0.73%.

Just a couple of minutes ago, Sensex has clocked a new 52-week high of 61216.26 and Nifty 50 crossed a new all-time high of 18,323.20.

In terms of sectoral indices, on BSE, the IT index climbed nearly 2%. FMCG, Metal, Power, Consumer Durables, Realty and Capital Goods indexes jumped more than 1% each.

Sensex bulls were - Tech Mahindra surging nearly 4% followed by ITC soaring over 3%. L&T gained 2.2%, while NTPC zoomed 1.8%.

Stocks like Power Grid, SBI, HDFC Bank, Infosys, Tata Steel, Dr Reddy's Lab and Bajaj Finserv jumped more than 1% each.

Sensex bears were - IndusInd Bank and Bajaj Finance plunged over 1% each. TCS slipped 0.9%, while Bharti Airtel shed 0.6%. Kotak Bank and Asian Paint dropped 0.5%.

IT sector is in focus after companies like Infosys, Wipro and Mindtree announced their September 2021 (Q2FY22) earnings. HCL Tech will be announcing its Q2 results today. 

India's volatility index nosedived by over 2.5%. 

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