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Sensex jumps over 200 points to hit 55,000-mark for first time; Nifty above 16,400 – Times of India

NEW DELHI: Equity indices surged to record highs on Friday with the benchmark BSE sensex crossing the physiological mark of 55,000 led by gains in banking and financial stocks. The 30-share sensex pack jumped 214 points or 0.39 per cent to 55,058 in early trade; while the broader NSE Nifty moved 66 points or 0.41 per cent higher to 16,431.
Top gainers in the BSE index included HDFC, M&M, ICICI Bank, L&T, HDFC Bank and TCS with their stocks up as much as 1.21 per cent.
On the NSE platform, sub-indices Nifty Financial Services and Nifty bank surged as much as 0.59 per cent.
Investor sentiments got a boost as the country’s retail inflation eased on improved supplies and government assured support to tide over economic strain caused by the pandemic.
Consumer prices eased to 5.59 per cent last month from June’s 6.26 per cent annual inflation rate.
Further, Union finance minister Nirmala Sitharaman told industrialists on Thursday that the economy had not so far reached the level where financial liquidity support could be withdrawn by the central bank.
Sensex and Nifty had settled at fresh all-time peak on Thursday as investors lapped up power, IT and banking stocks.
“Market breadth continued to be skewed in favour of the bulls amidst mixed global cues and strong support from IT, power and utility stocks,” Vinod Nair, head of Research at Geojit Financial Services told news agency PTI.
Meanwhile, foreign institutional investors emerged as net buyers in the capital market on Wednesday as they bought shares worth Rs 238.14 crore, as per exchange data.
(With inputs from agencies)