Sensex hits fresh record high in early trade on buying in IT stocks, rally in global markets
The Hindu
BSE Sensex hits all-time high on IT stock surge, global rally; Nifty also climbs, Asian markets up.
The BSE benchmark Sensex hit its fresh all-time high level in early trade on Friday (September 27, 2024) amid heavy buying in IT stocks and a rally in global markets.
The BSE Sensex climbed 119.38 points to reach a record peak of 85,955.50 in early trade. The NSE Nifty went up 34.5 points to 26,250.55.
From the 30 Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Sun Pharma, Tata Consultancy Services and Tata Steel were the biggest gainers.
Power Grid, Larsen & Toubro, Bharti Airtel and Mahindra & Mahindra were among the laggards.
In Asian markets, Tokyo, Shanghai, and Hong Kong were trading higher while Seoul quoted lower.
The US markets ended in the positive territory on Thursday.
"A significant global market trend is the outperformance of China and Hong Kong this month on hopes that the Chinese stimulus will improve the Chinese economy and valuations in these markets where valuations are cheap now. IT stocks are likely to respond positively to the good guidance of Accenture," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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