Sensex rises 359 points to hit fresh closing high; Nifty ends near 14,900 – Times of India

NEW DELHI: Equity indices continued to surge for the fourth straight session on Thursday with the benchmark BSE sensex rising over 350 points led by gains in banking and FMCG stocks.
After scaling an intra-day high of 50,212, the 30-share BSE index surged 359 points or 0.71 per cent to finish at fresh peak of 50,614; while the broader NSE Nifty settled 106 points or 0.71 per cent higher at 14,896.
Top gainers in the sensex pack included SBI, ITC, Bajaj Finance, ONGC, M&M and Kotak Bank with their shares rising as much as 6.11 per cent.
While Asian Paints, IndusInd Bank, Bharti Airtel, Tech Mahindra, Titan and Infosys were the major losers falling up to 2.08 per cent.
On the NSE platform, sub-indices Nifty PSU Bank, FMCG, Media and Metal gained up to 5.88 per cent.
According to experts, both the indices hit record highs on euphoria surrounding a high-spending budget aimed at reviving a pandemic-hit economy.
“Markets extended the momentum for yet another session and gained nearly a per cent. After the initial hiccups, the benchmark gradually inched higher and made a new record high as well, Ajit Mishra, VP – Research, Religare Broking Ltd, told news agency PTI.
“The budget has completely turned the market mood and the ongoing earnings season has also been decent so far,” he added.
Meanwhile, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,520.92 crore on a net basis on Wednesday, as per exchange data.
(With inputs from agencies)