Rediff.com  » Business » Financial stocks lift Sensex to record closing high

Financial stocks lift Sensex to record closing high

Source: PTI
June 03, 2021 16:22 IST
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Titan was the top gainer in the Sensex pack, soaring nearly 7 per cent, followed by ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance and HDFC Bank.

NSE Nifty soared 114.15 points to end at its lifetime peak of 15,690.35.

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Photograph:Utpal Sarkar/ANI Photo

Equity benchmark Sensex rallied 383 points to close at a fresh record on Thursday, driven by gains in HDFC Bank, L&T and Titan despite a largely negative trend in global markets.

The 30-share BSE index ended 382.95 points or 0.70 per cent higher at 52,232.43.

 

Similarly, the broader NSE Nifty soared 114.15 points or 0.73 per cent to end at its lifetime peak of 15,690.35.

Titan was the top gainer in the Sensex pack, soaring nearly 7 per cent, followed by ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance and HDFC Bank.

On the other hand, IndusInd Bank, PowerGrid, Bajaj Auto, M&M and Dr Reddy's were among the laggards.

Domestic equities remained upbeat with benchmark indices recording fresh highs, said Binod Modi, Head - Strategy at Reliance Securities.

Rebound in heavyweight financial services supported the market once again, he said, adding that realty followed by FMCG and metals also witnessed sharp recovery.

IT, pharma and auto witnessed some amount of pressure.

"Notably, midcap and small cap stocks continued to outperform broader indices as improved prospects of sustainable earnings recovery continue to attract investors towards this space," he noted.

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended in the red, while Tokyo and Seoul finished with gains.

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