Bank Nifty tops 40,000: Axis Bank, HDFC Bank, SBI lead the rally
It was a day of firsts in the Indian stock markets. The stock markets opened at record highs as all major indices opened at fresh highs in the early morning trade on Tuesday.
It was a day of firsts in the Indian stock markets. The stock markets opened at record highs as all major indices opened at fresh highs in the early morning trade on Tuesday. The show-stopper remained Bank Nifty which hit 40,000-mark soon after the market open for the first time ever. The banking index opened at 39,927.30 and soon went on to create a high of 40,011.15.
Axis Bank, HDFC Bank, State Bank of India, Bandhan Bank, Punjab National Bank led the banking index to record high. IDFC First Bank dragged the index the most. In the 12-share index, 8 advanced, while 4 declined.
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Meanwhile, riding high on the bull rally, equity benchmark Sensex scripted history as the index hit 62,000-mark for the first time ever, while Nifty 50 too went past 18,500. Both equity benchmarks Nifty 50 and Sensex opened at record highs of 18,602.35 and 62,156.48 respectively.
Larsen & Toubro Limited, Wipro, Tech Mahindra, SBI life and HCL Tech were top gainers of Nifty 50. On the 30-share Sensex, 23 gained, 7 stocks declined in the early trade.
The rally in the market also came from positive global cues as the Asian markets started off Tuesday on a good note. Nikkei 225 Index was trading 187 points above from the previous close at 29,213. Hong Kong's Hang Sang Index was also up over 300 points in the early trade on Tuesday, while Asia Dow was up 22 points.
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