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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Earthquake with preliminary magnitude of 6.5 rattles southern, central Mexico
Mexico City (AP): A strong earthquake rattled southern and central Mexico on Friday, interrupting President Claudia Sheinbaum's first press briefing of the new year as seismic alarms sounded.
The earthquake had a preliminary magnitude of 6.5, and its epicentre was near the town of San Marcos in the southern state of Guerrero near the Pacific coast resort of Acapulco, according to Mexico's national seismological agency.
There were no immediate reports of damage or casualties.
