Sensex Crosses 63,000-Point Mark for the first-time, Nifty Closes at New Record High

In a first, the benchmark BSE Sensex closed above the 63,000-level, continuing its winning streak into its seventh day amid a generally favorable trend in the global markets and ongoing inflows of foreign capital.
The 30-share index increased 417.81 points, or 0.67 percent, to close at 63,099.65, a new high. The benchmark reached its all-time intra-day high of 63,303.01 during the day, rising 621.17 points or 0.99 percent. The larger NSE Nifty gained 140.30 points, or 0.75 percent, to close at 18,758.35, a new high.

Mahindra & Mahindra, UltraTech Cement, Power Grid, Hindustan Unilever, Bharti Airtel, Asian Paints, Tata Steel, and Titan all had substantial gains inside the Sensex pack.

Laggards included IndusInd Bank, State Bank of India, HCL Technologies, and ITC.

“The domestic market kept looking for gains, helped by FII inflows. However, because investors are anticipating a slowing in the pace of rate hikes, markets will be sensitive to the Fed Chair’s comments later in the day. While the global markets are being relieved by China’s relaxation of COVID-19 restrictions, an in-line comment will aid in maintaining the rise “said Vinod Nair, Geojit Financial Services’ head of research.

Markets in Seoul, Shanghai, and Hong Kong closed higher on other Asian exchanges, but Tokyo’s closed lower. European stock exchanges were trading more favourably in the afternoon session. On Tuesday, Wall Street had a mixed day. Benchmark Brent crude for world markets was trading 1.83 percent higher at USD 84.55 per barrel.

According to exchange statistics, foreign institutional investors (FIIs) purchased shares on Tuesday for a total of 1,241.57 crore.