BSE Sensex, Nifty hit record highs; Power Grid, RIL rally
BSE Sensex and Nifty hit record highs on Friday helped by financials and energy stocks aas more states lifted Covid-19 restrictions and US inflation data allayed investors' worries. At 9:15am, the BSE Sensex opened 0.34 per cent, or 176.72 points, higher at 52,477.19, and the Nifty50 index opened at 15,796.45, up 58.70 points, or 0.37 per cent.
Sensex and Nifty were lifted to their all-time high levels with index heavyweights such as Reliance Industries Ltd (RIL), HDFC Bank, SBI, IndusInd Bank, among others rallying. RIL and HDFC Bank Ltd gained 1.4% and 0.8%, respectively. Shares of Reliance have risen in five of the last eight trading sessions.
Broader markets supported the rally with Nifty Smallcap100 and Nifty Midcap100 indices up over half a percent each. All the sectoral indices were trading higher led by Nifty Metal, Nifty PSU Bank, Nifty Pharma and Nifty Auto.
On NSE, PowerGrid Corporation, Coal India, JSW Steel, Hindalco Industries and Reliance Industries were the top gainers and Tech Mahindra, Titan Company, Divi's Laboratories, ONGC and Wipro were the top index losers.
Investors are now eyeing India's industrial output data for April to be released later in the day. Meanwhile, the US consumer price index data released on Thursday fitted in with Federal Reserve's repeated assertion that higher inflation will be transitory, offering relief to global stock markets.
(With agency inputs)