6-day rally takes Sensex over 69k

Mumbai: Benchmark Sensex and Nifty soared to new lifetime highs on Tuesday, fueled by robust buying in power, banking and utility stocks, extending their rally for a sixth consecutive session.

The 30-share BSE Sensex jumped 431.02 points, or 0.63 per cent, to close at a new record high of 69,296.14. As many as 20 Sensex scrips closed with gains.

The broader index Nifty also climbed 168.50 points, or 0.81 per cent to hit its lifetime high of 20,855.30 with 32 of its components closing in the green. The market capitalisation of BSE-listed firms surged by more than Rs2.5 lakh crore to cross Rs350 lakh crore on Tuesday.

“The domestic market extended the gains and hit fresh highs despite cautiousness among global peers ahead of key US job data this week. The aura of the state election results and other positive factors like above-expected earnings and GDP growth data are supporting the return of FII flows to the Indian market. The RBI’s monetary policy meeting is expected to be status quo. However, the commentary on economic growth, foodgrain prices and inflation trajectory will be closely watched,” said Vinod Nair, head (research) at Geojit Financial Services.

Among sectoral indices, utilities surged the highest 6.54 per cent followed by power rising by 6.09 per cent. While services index went up 3.93 per cent, commodities advanced 2.04 per cent and oil & gas jumped 1.84 per cent. Bankex rose 1.21 per cent and energy inched up by 1.17 per cent. Realty index declined by 0.65 per cent, while IT and teck slipped by 0.57 per cent and 0.43 per cent, respectively. Telecommunications, healthcare and FMCG were other laggards.