Market Wrap: D-Street smashes fresh lifetime high; Sensex closes above 84,540, Nifty just shy of 25,800

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Indian headline indices smashed fresh record highs on Friday catapulted by heavyweights ICICI Bank and HDFC bank which had the biggest contribution to the respective index. They took positive cues from global and Asian markets amid the onset of a monetary easing policy by the US Fed.

The S&P BSE Sensex hit a lifetime high of 84,694.46 before ending the session at 84,544.31, which was a 1,359 points or 1.63% lead over the last closing. The broader Nifty50 settled at 25,790.95, gaining by 375.15 points or 1.48%. The 50-stock index today hit a fresh all-time high of 25,849.25.

The combined market capitalisation of all BSE-listed stocks shot up by Rs 5.5 lakh crore to Rs 471 lakh crore.

The protagonists in today’s rally were ICICI Bank and HDFC Bank which helped both benchmarks close at record levels. ICICI Bank itself hit a fresh 52-week high of Rs 1,362.35 on the NSE. HDFC Bank closed at 1,737.20, up by Rs 28.70 or 1.68%.

Top Gainers & Losers

In the 50-stock Nifty, 44 scrips closed in the green. The top gainers were Mahindra & Mahindra (M&M), ICICI Bank, JSW Steel, Larsen & Toubro (L&T) and Coal India while the top losers were Grasim Industries, State Bank of India (SBI), NTPC, IndusInd Bank and Hero MotoCorp. Among sectoral toppers were Nifty Auto, Nifty Bank and Nifty Financial Services which ended with an uptick of 1.9%, 1.4% and 1.6%, respectively. The only laggard out of 16 Nifty sectoral indices was Nifty PSU Bank which closed with minor declines of 0.1%.

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Market Wrap: D-Street smashes fresh lifetime high; Sensex closes above 84,540, Nifty just shy of 25,800

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