Nifty hits record intra-day high; Sensex jumps 573 points on gains in metal, banking stocks
Mumbai (PTI): Equity benchmark index Nifty hit its lifetime peak before closing 182 points higher on Friday, and the BSE Sensex jumped 573 points, powered by strong buying in power, banking and metal stocks.
Unabated capital infusion by domestic institutional investors amid a sharp rally in Asian peers also supported the domestic stock market, traders said.
Charting out a firm trend, the 30-share BSE Sensex climbed 573.41 points or 0.67 per cent to settle at 85,762.01. During the day, it jumped 623.67 points, or 0.73 per cent, to 85,812.27.
A total of 2,772 stocks advanced, while 1,449 declined and 150 remained unchanged on the BSE.
Rising for the third-straight session, the 50-share NSE Nifty went up by 182 points, or 0.70 per cent, to 26,328.55. During the day, it surged 193.45 points, or 0.73 per cent, to reach an all-time peak of 26,340.
"After the New Year holiday, the global markets initiated 2026 on a positive note, while strong domestic automobile sales helped Indian equities to touch a fresh all-time high. Investor sentiment remains broadly constructive as attention turns to Q3 earnings, which are expected to guide near-term market direction," Vinod Nair, Head of Research, Geojit Investments Limited, said.
On the weekly front, the BSE benchmark jumped 720.56 points or 0.84 per cent, and the Nifty climbed 286.25 points or 1.09 per cent.
From the 30-Sensex firms, NTPC, Trent, Bajaj Finance, Power Grid, Maruti, State Bank of India, ICICI Bank and Bharat Electronics were among the biggest gainers.
In contrast, ITC, Kotak Mahindra Bank, Titan Company, Axis Bank and Bharti Airtel were the laggards.
"Select index heavyweights provided additional support, enabling the market to sustain its upward momentum despite the absence of strong global triggers, as several overseas markets remained closed due to holidays. Meanwhile, continued weakness in tobacco-related stocks weighed on the FMCG space following recent tax-related developments," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Shares of cigarette and tobacco product makers ITC, Godfrey Phillips and VST Industries ended lower on Friday, extending their previous day's decline, after the government imposed an additional excise duty on such products effective February 1.
ITC's stock ended 3.79 per cent lower at Rs 350.15 on the BSE. During the day, the stock tumbled 5.11 per cent to Rs 345.35 -- its 52-week low.
ITC emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms.
The stock of Godfrey Phillips India dipped 1.70 per cent to end at Rs 2,250.65.
VST Industries also declined by 1.49 per cent to Rs 251.35.
The BSE midcap gauge jumped 0.97 per cent, and the smallcap index climbed 0.79 per cent.
Among sectoral indices, utilities surged 2.71 per cent, power (2.26 per cent), energy (1.58 per cent), PSU bank (1.53 per cent), realty (1.46 per cent), metal (1.46 per cent) and auto (1.04 per cent).
On the other hand, BSE FMCG emerged as the only loser.
"Broad-based buying, led by metals, banks and auto stocks, kept market breadth positive, while steady domestic institutional inflows helped offset persistent foreign selling. Optimism around an improving earnings outlook, healthy auto sales, positive bank business updates and expectations of reforms and a potential US trade deal further buoyed sentiment," Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,268.60 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,525.89 crore, according to exchange data.
In Asian markets, South Korea's Kospi index and Hong Kong's Hang Seng index ended significantly higher. China's Shanghai index and Japan's Nikkei remain closed for a holiday.
Markets in Europe were trading higher in mid-session deals.
US markets were closed on Thursday for the New Year's Day holiday.
Brent crude, the global oil benchmark, declined 0.36 per cent to USD 60.63 per barrel.
On Thursday, the Sensex dipped 32 points or 0.04 per cent to settle at 85,188.60. The Nifty went up marginally by 16.95 points or 0.06 per cent to end at 26,146.55.
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Experience comes when you play bigger teams in bilateral series: Rashid Khan
Chennai (PTI): Afghanistan skipper Rashid Khan called for more bilateral series against stronger cricketing nations after his team signed off from the T20 World Cup on a high, defeating Canada in their final group match here on Thursday.
Afghanistan played some exhilarating cricket, going down to South Africa in a gripping second Super Over after the scores were tied, a humdinger that provided one of the early thrills of the World Cup.
However, the spin-bowling stalwart said Afghanistan could make significant strides if they get regular opportunities to compete against stronger cricketing nations.
"Couple of areas to improve, with the batting, the middle order got a bit stuck against the big teams, and then with the bowling the death overs. That comes when you play the bigger teams in bilateral series," said Rashid after his team defeat Canada by 82 runs, with him returning excellent figures of 2 for 19.
The stalwart said the side had arrived well prepared for the tournament and produced some breathtaking cricket, but admitted the narrow defeat to South Africa proved costly and remained a painful setback.
"We were well-prepared (for the tournament), we played some unbelievable cricket. The game against South Africa, that really hurt everyone. We had to win one of those (first two) games and see how the tournament unfolded. We'll take some positive things from this World Cup and look forward," he said.
With head coach Jonathan Trott set to part ways with the team, Rashid described the departure as an "emotional" moment for the side.
"I think we had some wonderful times with him. Where we are now, he played a main role. It's emotional to see him leave us, but that's how life is. We wish him all the best and somewhere down the line we see him again."
Ibrahim Zadran, who was named Player of the Match for his unbeaten 95 off 56 balls, said it was satisfying to finally register a substantial score after two below-par outings.
"I enjoyed it, didn't play better cricket in first two innings, which I expect. Wanted to back my skills, really enjoyed it. Pressure was there, it's there all the time. I want to put myself in pressure situations and enjoy it," said Zadran.
"Wanted to play positive cricket, rotate strike and punish bad ball, create partnerships and this is what I have done."
