National Stock Exchange (NSE) index Nifty hit a new all-time high in today’s intraday trading. At around 1.50 pm, the 50-share Nifty hit an all-time high of 10,179.15 and finished the day’s trade at 10,167.45. Today’s closing price represents a 0.70% increase from yesterday’s closing price of 10,096.40. This all-time high has been attributed to the country’s ongoing festive boom that brought cheer to the market.
According to analysts, healthy output in the manufacturing sector along with increased spending in banking, metal, and consumer durables industry has led to the surge in today’s trading.
Among the largest gainers in Nifty’s 50 shares, Bharti Airtel gained 7.87%, Bharti Infratel gained 4.16%, and Tata Steel gained 3.13% in today’s trading. The significant gain in Airtel’s stock is a result of the company’s announced merger with Tata Teleservices. Airtel is all set to buy Tata’s loss-making wireless mobile segment and consolidate the industry a little more.
Major information technology service providers including TCS, Infosys, HCL, and Tech Mahindra gained in the NSE and contributed to Nifty’s intraday surge. The banking industry also witnessed significant growth in today’s market with Kotak Mahindra Bank gaining 2.58%, HDFC Bank gaining 1.99%, and ICICI Bank gaining 1.61%.
Among the top 50 shares of Nifty, 37 advanced in today’s market while 13 of them declined. Key losers in today’s trading include Gail (India) Ltd. (5.5%), Zee Entertainment Enterprises (4.42%), and NTPC Ltd. (2.27%).
Bombay Stock Exchange (BSE) index Sensex also finished strong today gaining more than 250 points or 0.78%. Bharti Airtel is the largest gainer in the BSE stock market with more than 8% gains in today’s trading. Other key gainers that contributed to Sensex’s higher index in today’s market include Oberoi Realty (7.67%), Sobha Ltd. (7.56%), and Karnataka Bank (6.69%).