Sensex, Nifty reach new heights on Reliance Industries surge and positive global cues

Equity benchmarks Sensex and Nifty on Tuesday witnessed new historic highs, driven by robust performances in key sectors, particularly a surge in the shares of Reliance Industries, coupled with positive global market trends.

The BSE Sensex gained 122.10 points or 0.17%, ultimately closing at 71,437.19. In the course of the day, it reached an all-time high of 71,623.71, marking a substantial increase of 308.62 points or 0.43%.

The Nifty index displayed a similar upward trajectory, advancing by 86.4 points or 0.40% to achieve a record peak of 21,505.05. The day concluded with a closing gain of 34.45 points or 0.16%, settling at 21,453.10.

Major contributors to the Sensex's gains included Nestle, NTPC, Reliance Industries, State Bank of India, ITC, Hindustan Unilever, Power Grid, and Bajaj Finance. Conversely, Wipro, Tata Consultancy Services, HCL Technologies, Tata Steel, Bajaj Finserv, and Maruti faced declines, contributing to the laggards' list.

In the global arena, Asian markets, including Seoul, Tokyo, and Shanghai, closed on a positive note, while Hong Kong experienced a downturn. European markets echoed this positive sentiment, trading in the green, while the US markets concluded Monday with gains.

Brent crude, the international oil benchmark, experienced a marginal dip of 0.30%, settling at $77.72 per barrel.

Despite a recent trend of continuous buying, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 33.51 crore on Monday, according to exchange data.

Breaking its three-day winning streak, the BSE benchmark observed a decline of 168.66 points or 0.24%, concluding at 71,315.09 on Monday. Similarly, the Nifty recorded a fall of 38 points or 0.18%, settling at 21,418.65.