Sensex, Nifty hit new all-time high; OMC, defence stocks shine
Sensex, Nifty hit new all-time high; OMC, defence stocks shine
Frontline equity benchmark indices rose to record highs on Tuesday, led by gains in energy stocks after a cut in windfall tax on crude and firm trends in global markets. Defence stocks also participated in the rally.
The 30-share BSE Sensex inched 334.03 points higher to hit its fresh lifetime peak of 77,326.80 while the NSE Nifty 50 went up by 108.25 points to hit its new all-time high of 23,573.85.
Among the 30 Sensex companies, Tech Mahindra, Infosys, Bharti Airtel, Hindustan Unilever, Wipro, Titan, Mahindra & Mahindra, were the biggest gainers. Maruti, Kotak Mahindra Bank, HDFC Bank and ICICI Bank were among the laggards.
Among sectoral indices, Nifty Realty and Consumer Durables were the biggest gainers with a gain of over a per cent. Amid the rally, Pharma and Healthcare remained only two sectoral indices in red.
Energy stocks rose 0.5 per cent, led by a 1.2 per cent gain in ONGC. The government cut the windfall tax on petroleum crude to 3,250 rupees per metric ton from 5,200 rupees, effective June 15. Similarly, shares of IT major Wipro rose 3 per cent after announcing an extension of its digital transformation partnership with apparel maker Hanesbrands.
Public Sector Enterprise (PSE) rose 1 per cent, on course to extend its post-election results rally to the ninth session. Top PSE gainers include Hindustan Aeron, Bharat Electronics, Power Grid Corporation, IRCTC, NTPC.
India VIX, Fear Index or Volatility Index, has seen minor gains of 3.90 per cent at 13.32.
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