Sensex crosses 86K, scaling a new record; Nifty tops 26,300

The key equity benchmarks traded with modest gains in morning trade. Investor sentiment remained upbeat on expectations of potential U.S. and domestic interest rate cuts next month, which fueled fresh buying interest across sectors. The Nifty traded above the 26,250 mark. IT shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, surged 314.70 points or 0.37% to 85,924.21. The Nifty 50 index rose 73.85 points or 0.28% to 26,279.15.

The Nifty 50 and the Sensex hit fresh all-time highs in morning trade at 26,306.95 and 86,026.18, respectively, while the Bank Nifty also scaled a new record high of 59,804.65.

 

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The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.93% and the S&P BSE Small-Cap index rose 0.95%.

The market breadth was strong. On the BSE, 2,632 shares rose and 989 shares fell. A total of 208 shares were unchanged.

Buzzing Index:

The Nifty IT index rose 0.60% to 37,587.35. The index jumped 2.06% in the two consecutive trading sessions.

Coforge (up 1.87%), Persistent Systems (up 0.72%), Mphasis (up 0.7%), Infosys (up 0.65%), LTIMindtree (up 0.59%), Tech Mahindra (up 0.46%), Oracle Financial Services Software (up 0.42%), HCL Technologies (up 0.4%), and Wipro (up 0.14%) rose.

Stocks in Spotlight:

Mini Diamonds India rose 1.21% after the company secured a fresh export order worth $2 million (around Rs 17.8 crore) from a Singapore-based customer for lab-grown cut & polished diamonds.

Brigade Enterprises said that it has signed a lease deed for 4.859 acres of land for a period of 90 years with Electronics Technology Parks for the development of IT infrastructure in Technopark Phase-I Thiruvananthapuram, Kerala.

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