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<ul><li>Sensex hit 64,050 while <keyword id="6354813" type="General" weightage="100" keywordseo="nifty" source="Orion">Nifty</keyword> touched 19,011 level for the first time, with gains across all sectors in intra-day trade. </li><li>Titan, Bajaj Finance, State Bank of India, ITC, Larsen &amp; Toubro were among the major gainers. </li><li>Encouraging monsoons and earnings resilience are the reasons for the bull market performance, say analysts. </li></ul>Indian benchmark indices closed 0.8% higher on Wednesday after both Sensex and Nifty touched new highs in intra day trade. Sensex hit 64,050.44 while Nifty touched 19,011 level for the first time, with gains across all sectors. NTPC, Tata Motors, Titan, Larsen &amp; Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers, while <keyword id="14071986" type="General" weightage="50" keywordseo="wipro-and-tech-mahindra" source="Orion">Wipro and Tech Mahindra</keyword> were the laggards. The US markets ended significantly higher on Tuesday. Tokyo quoted in the green while Seoul, Shanghai and Hong Kong were trading lower. Global oil benchmark Brent crude climbed 0.61% to $72.7 a barrel. Christy Mathai, fund manager-equity at Quantum AMC said that Indian markets are at an all-time high, driven by strong inflows from the FII the past few months. As per exchange data, FIIs bought equities worth ₹2,024 crore on Tuesday. “Growth hurdles of the Indian economy have corrected to a large extent. Infrastructure has been improving consistently, corporate balance sheet strength has improved, and the financial system is in a robust state to fund the potential growth. Despite the recent rally, fundamentals point to the possibility of strong earnings growth in the medium term,” Mathai added. Analysts also say that the long-term average makes a strong case for reasonable returns as earnings upcycle gains strength. “Nifty all-time high reflects the confluence of two factors, namely, the relative earnings resilience of India Inc. based on strong bottom-up drivers in a difficult global macro environment and post late start, the encouraging recent progress of monsoons across India," Trideep Bhattacharya, CIO-Equities, Edelweiss Mutual Fund said. A Kotak Institutional Equities report on June 26 said that there is very little value in most parts of the market. “We struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months. The BFSI sector is the only sector that offers value although even insurance stocks have rallied in the past few days,” the report said. (With inputs from IANS and PTI)

Nifty, Sensex soar to new closing highs as bull run continues

Equity benchmarks scaled <keyword id="176421" type="PERSON" weightage="20" keywordseo="record-highs">record highs</keyword> for the third straight session on Wednesday as investors accumulated banking, auto and engineering stocks amid firm global cues and unabated foreign fund inflows. The BSE Sensex vaulted 227.34 points or 0.52 per cent to close above the 44,000-level for the first time at 44,180.05. Intra-day, it touched its lifetime high of 44,215.49. Similarly, the broader NSE Nifty advanced 64.05 points or 0.50 per cent to end at its all-time high of 12,938.25, after making an intra-day record of 12,948.85. M&amp;M was the top gainer in the Sensex pack, soaring 10.76 per cent, followed by L&amp;T, IndusInd Bank, Bajaj Finserv, SBI, Bajaj Finance, ICICI Bank, Kotak Bank and Axis Bank. On the other hand, HUL, ITC, Titan, TCS, Bharti Airtel and <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> were among the losers, shedding up to 2.07 per cent. According to traders, largely positive cues from global markets and persistent foreign fund inflows buoyed market sentiment. Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 4,905.35 crore on Tuesday, according to provisional exchange data. Global equities held steady after the recent rally fuelled by encouraging COVID-19 vaccine trials, though the steadily rising coronavirus cases weighed on risk sentiment. Domestic equities continued to maintain their northward move mainly led by rebound in financials and automobiles, said Arjun Yash Mahajan, Head Institutional Business at Reliance Securities, adding that strong buying continued in mid-cap and small-cap stocks "A healthy improvement in earnings outlook of financials and visibility over asset quality continued to support financial stocks. Rotational trade also remained visible where IT, FMCG and Pharma remained laggards and cyclical and beaten down stocks witnessed sharp upmove," he said. BSE capital goods, auto, industrials, realty, bankex and finance indices surged up to 3.72 per cent, while FMCG, IT, teck, telecom and healthcare closed with losses. Lakshmi Vilas Bank slumped 20 per cent to hit its lower circuit after the cash-strapped lender was put under moratorium due to its precarious financial health. T N Manoharan, the RBI-appointed administrator of Lakshmi Vilas Bank, on Wednesday said depositors' money is safe and expressed confidence of completing the lender's merger with DBS Bank India within the deadline set by the regulator. Meanwhile, the broader BSE midcap and smallcap indices rallied as much as 1.22 per cent. Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a positive note, while Tokyo was in the red. Stock exchanges in Europe also largely opened with gains. Brent crude futures, the global oil benchmark, was trading 0.85 per cent higher at USD 44.12 per barrel. The rupee continued its winning momentum for the third session in a row on Wednesday, rising 27 paise to settle at 74.19 against the US dollar. SEE ALSO: <a href="https://www.businessinsider.in/india/news/as-covid-19-cases-spike-in-delhi-aarvind-kejriwal-government-has-proposed-plans-to-limit-guests-at-a-wedding-to-50-people/articleshow/79259569.cms">Delhi government wants weddings to be restricted to 50 people, markets to be sealed if norms violated</a> <a href="https://www.businessinsider.in/policy/economy/news/ahead-of-modi-and-xi-virtual-meet-at-brics-summit-india-foreign-minister-warns-of-rcep-damaging-consequences/articleshow/79257760.cms">India's Foreign Minister warns of RCEP's 'damaging consequences' ahead of Modi and Xi's virtual meet at BRICS summit</a>

Bulls incharge on Dalal Street: Sensex ends above 44,000 for first time, Nifty inches closer to 13,000-mark

Mumbai, Nov 22 () Domestic equity benchmarks opened on a cautious note on Friday tracking weakness in index-heavyweight <keyword id="88972" type="PERSON" weightage="20" keywordseo="IT-stocks">IT stocks</keyword> amid mixed global cues. After opening on a positive note, the 30-share index turned choppy to trade 15.89 points, or 0.04 per cent, lower at 40,559.28. Similarly, the broader <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> slipped 20.45 points, or 0.17 per cent, to 11,947.95. Top losers in the Sensex pack included Infosys which fell up to 3 per cent, HCL Tech 1.67 per cent, <keyword id="43217" type="COMPANY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> 1.65 per cent, TCS 1.52 per cent, Bharti Airtel 1 per cent and Bajaj Auto 0.91 per cent. On the other hand, Sun Pharma rose up to 3.16 per cent, NTPC 2.69 per cent, PowerGrid 2.30 per cent and RIL 1.74 per cent.
 According to traders, fall in IT stocks amid reports of changes in US work visa requirements aimed at protecting American workers fuelled the overall weakness in the market.
 On Thursday, the Sensex ended 76.47 points, or 0.19 per cent, lower at 40,575.17. The Nifty closed 30.70 points, or 0.26 per cent, down at 11,968.40.
 Foreign institutional investors bought shares worth Rs 5,023.54 crore in the capital market in the previous session, while domestic institutional investors sold equities worth Rs 247.74 crore, data available with stock exchange showed.
 Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were trading on a positive note, while those in Shanghai were in the red.
 Stocks on Wall Street ended on a negative note on Thursday.
 On the currency front, the rupee appreciated 4 paise (intra-day) against the US dollar to trade at 71.72 in early session.
 Brent futures, the global oil benchmark, fell 0.59 per cent to USD 63.59 per barrel. ANS
ANS

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Nifty, Sensex soar to new closing highs as bull run continues

BI India Bureau

Bulls incharge on Dalal Street: Sensex ends above 44,000 for first time, Nifty inches closer to 13,000-mark

PTI

Sensex, Nifty open on a cautious note; IT stocks fall

PTI

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