In early trading on Thursday, the benchmark equity indices experienced a notable rebound, propelled by a rally in global markets. Both the Sensex and Nifty reached their all-time high levels, showcasing significant gains.
The 30-share BSE Sensex surged by 391.48 points to reach 65,785.38 in early trade. Likewise, the NSE Nifty witnessed an increase of 111.3 points, reaching 19,495.60.
As the trading session progressed, both indices continued their upward trajectory, surpassing their previous record highs. The Sensex hit a lifetime peak of 65,943.57, while the Nifty reached an all-time high of 19,540.25.
Several prominent companies contributed to the gains in the Sensex. Tata Steel, Tata Consultancy Services, Mahindra & Mahindra, Infosys, JSW Steel, Kotak Mahindra Bank, State Bank of India, and HDFC Bank emerged as significant gainers.
Tata Consultancy Services (TCS) recorded a 1.62% increase in its stock price following the announcement of its earnings report for the June quarter. The country’s largest IT services company reported a 16.83% rise in net profit to Rs 11,074 crore. However, TCS expressed caution about future growth prospects due to market uncertainties.
On the other hand, Power Grid, HCL Technologies, Asian Paints, Hindustan Unilever, Maruti, and Nestle were among the laggards in the market.
Across Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong demonstrated positive trading activity.
In the United States, the stock market concluded Wednesday’s session with gains, contributing to the positive sentiment in global markets.