NEW DELHI: Equity indices surged in opening trade on Friday with the benchmark BSE sensex breaching 58,000 mark led by gains in index majors Reliance Industries, Kotak Bank and ICICI Bank amid a positive trend in global markets and sustained foreign fund inflows.
The 30-share BSE index was trading 230 points or 0.4 per cent at a new lifetime high of 58,082; while the broader NSE Nifty was up 54 points or 0.3 per cent at 17,288.
Top gainers in the sensex pack included Titan, Reliance, Kotak Bank, SBI and L&T with their shares rising as much as 1.98 per cent.
While HCL Tech, HUL, TCS, M&M, Tech Mahindra and M&M were the major losers falling up to 1.12 per cent.
On the NSE platform, sub-indices Nifty PSU Bank, Realty, Bank and Financial Services were up as much as 1.98 per cent.
Reliance Industries Ltd and Eicher Motors Ltd were among the top performers on the Nifty 50, gaining 1.2 per cent and 2.4 per cent, respectively.
Shares of HDFC Life Insurance Co Ltd fell as much as 4.2 per cent after the company said it would buy the life insurance unit of battery maker Exide Industries Ltd for Rs 6,687 crore ($915.02 million), while Exide Industries surged nearly 10 per cent.
A sharp recovery in the market in the last couple of days is mainly attributed to revival in FIIs flows following dovish commentary from the Fed chairman in Jackson Hole Symposium last week and sustained domestic flows, Binod Modi Head-Strategy at Reliance Securities told news agency PTI.
"High frequency key economic indicators for August 2021, in the form of GST collection, railway freight, auto sales volume despite semiconductor issues, power consumption, import-export data and fuel volumes indicate a sustained economic recovery on YoY comparison," he added.
The market capitalisation of BSE-listed companies jumped to an all-time high of Rs 252.68 lakh crore on Thursday as indices closed at fresh peaks. Investors had gained about Rs 2,53,612.77 crore.
In the previous session, the 30-share BSE sensex jumped 514.33 points or 0.90 per cent to close at 57,852.54, its lifetime high. During the day, it had zoomed 554.16 points to 57,892.37.
Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 348.52 crore on Thursday, as per provisional exchange data.
(With inputs from agencies)
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sensex today: Sensex breaches 58,000-mark, rises over 200 points in opening trade; Nifty above 17,300 - Times of India
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