BSE Sensex climbed 164.24 points to a record high of 75,585.28 and the broader NSE Nifty 50 rose 37 points to a record high of 23,004.05 during early trade on Friday.
On Wednesday the RBI announced its decision to declare its highest-ever dividend of Rs 2.11 lakh crore to the government. As per the economists, this move would reduce the fiscal deficit burden on the government and make Bharat an attractive investment destination.
Among the key gainers driving this surge in the Sensex were prominent firms including Bajaj Finance, Larsen & Toubro, Tata Steel, State Bank of India, HDFC Bank, and Bharti Airtel.
However, Mahindra & Mahindra, Tata Consultancy Services, Maruti, and JSW Steel were among the laggards the early trading session.
Foreign Institutional Investors (FIIs) turned buyers on Thursday, injecting enthusiasm into the market by purchasing equities worth Rs 4,670.95 crore, as per exchange data.
The outcome of the ongoing general elections, scheduled to be announced on June 4, continues to be a focal point for investors, contributing to the prevailing optimism in the market.
However, Asian markets, including Seoul, Tokyo, Shanghai and Hong Kong, were trading lower, mirroring a negative prevalent on Wall Street, which closed in the red on Thursday.
Meanwhile, the global oil benchmark, Brent crude, saw a marginal increase of 0.05 %, reaching $81.40 a barrel.
With approximately two weeks remaining until the Lok Sabha poll results are revealed, both the Sensex and Nifty exhibited remarkable gains, surging over 1.6 % to achieve lifetime high levels during Thursday’s trading session.
The BSE Sensex reclaimed the 75,000 level, concluding at an all-time peak of 75, 418. 04, registering a surge of 1,196.98 points or 1.61 %. The NSE Nifty approached the 23,000 mark, closing at 22,967.65 after an impressive gain of 369.85 points or 1.64 %.
Comments