Sensex, Nifty surge to record highs

30-share BSE index ends 382.95 points or 0.70% higher at 52,232.43; NSE Nifty soars 114.15 points or 0.73% to end at its lifetime peak of 15,690.35

Equity benchmark Sensex rallied 383 points to close at a fresh record on June 3, driven by gains in HDFC Bank, L&T and Titan despite a largely negative trend in global markets.

The 30-share BSE index ended 382.95 points or 0.70% higher at 52,232.43.

Similarly, the broader NSE Nifty soared 114.15 points or 0.73% to end at its lifetime peak of 15,690.35.

Titan was the top gainer in the Sensex pack, soaring nearly 7%, followed by ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance and HDFC Bank.

On the other hand, IndusInd Bank, PowerGrid, Bajaj Auto, M&M and Dr Reddy’s were among the laggards.

Domestic equities remained upbeat with benchmark indices recording fresh highs, said Binod Modi, Head – Strategy at Reliance Securities.

Rebound in heavyweight financial services supported the market once again, he said, adding that realty followed by FMCG and metals also witnessed sharp recovery.

IT, pharma and auto witnessed some amount of pressure. “Notably, midcap and small cap stocks continued to outperform broader indices as improved prospects of sustainable earnings recovery continue to attract investors towards this space,” he noted.

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended in the red, while Tokyo and Seoul finished with gains.

Equities in Europe were also trading with losses in mid-session deals.

International oil benchmark Brent crude was trading 0.18% lower at $71.22 per barrel.

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