News Business Budget Sensex hits record 72,720; Nifty at all time high of 21,928 led by IT stocks

Sensex hits record 72,720; Nifty at all time high of 21,928 led by IT stocks

The Sensex rallied by 847.27 points to end the session at a record high of 72,568.45, while the Nifty rose by 247.35 points to an all-time high of 21,894.55.

BSE Image Source : PTI (FILE)BSE building

The blue-chip indexes Nifty and Sensex surged to new all-time highs on Friday on the back of gains in IT services firms, as their results and commentary surpassed expectations. This positive performance helped alleviate concerns about weak demand in the market. The BSE Sensex rose 847.27 points to settle at a record 72,568.45, while the Nifty index surged by 247.35 points to a record high of 21,894.55. 

Infosys saw a significant jump of over 6 per cent earlier in the trading session, despite reporting a lower-than-expected 7.3 per cent fall in net profit for the December quarter. The dip was attributed to sluggish demand from clients, and the company also cut its annual sales forecast.

Tata Consultancy Services (TCS) rose nearly 4 per cent after reporting an 8.2 per cent growth in net income for the December quarter at ₹11,735 crore. This growth was primarily driven by a substantial increase in the home market, which offset the impact of a 3 per cent de-growth in the US market.

Global markets showed mixed performance, with Tokyo's benchmark extending its New Year rally and trading above 35,000. US futures edged higher, and oil prices surged more than $1 a barrel.

In Europe, Germany's DAX rose 1 per cent to 16,710.98, and the CAC40 in Paris gained 1.2 per cent to 7,474.57. Britain's FTSE 100 climbed 0.8 per cent to 7,635.15. The futures for the S&P 500 were up 0.1 per cent, while those for the Dow Jones Industrial Average gained 0.2 per cent.

Tokyo’s Nikkei 225 increased by 1.5 per cent to 35,577.11, capping a week of strong gains. The yen’s weakness against the US dollar benefited Japanese exporters, such as industrial robot maker Fanuc Corp., whose shares rose by 2.1 per cent on Friday.

(With PTI inputs)

READ MORE: TSC stock soars over 4 per cent as Q3 income rises 8 per cent to Rs 11,735 crore

READ MORE: Infosys surges over 7 per cent after Q3 profit aligns with estimates 

 
 

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