Sensex, Nifty Hit Record Highs Boosted by IT and Tech Stocks

Mumbai: Equity benchmark indices Sensex and Nifty surged nearly 1% to reach new all-time highs on Friday, driven by robust buying in IT and tech stocks following stellar earnings from Tata Consultancy Services (TCS).

The 30-share BSE Sensex soared 622 points or 0.78% to a new closing high of 80,519.34. Intraday, it spiked 996.17 points or 1.24% to hit a record peak of 80,893.51. Meanwhile, the NSE Nifty climbed 186.20 points or 0.77% to close at a historic 24,502.15. During the day, it surged 276.25 points or 1.13% to a new lifetime high of 24,592.20.

TCS led the gains, jumping nearly 7% after reporting an 8.7% rise in June quarter net profit to Rs 12,040 crore. Other notable gainers included Infosys, HCL Technologies, Tech Mahindra, Axis Bank, Reliance Industries, JSW Steel, Bajaj Finance, and Larsen & Toubro.

However, Maruti, Asian Paints, Titan, Kotak Mahindra Bank, Bharti Airtel, and ICICI Bank lagged.

Asian markets had a mixed session with Shanghai and Hong Kong closing higher, while Seoul and Tokyo ended lower. European markets traded higher mid-session, and US markets closed mostly lower on Thursday.

Brent crude, the global oil benchmark, rose 0.78% to USD 86.13 a barrel. Foreign Institutional Investors (FIIs) sold equities worth Rs 1,137.01 crore on Thursday.

On the previous day, the BSE Sensex had closed down by 27.43 points or 0.03% at 79,897.34, while the NSE Nifty edged lower by 8.50 points or 0.03% to settle at 24,315.95.

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