The benchmark indices surged higher and hit a fresh intraday high in the morning trade. The Nifty traded above the 21,150 mark. IT stocks which were declining in the past two trading sessions made a reversal and rallied.
As the US Federal Reserve’s signal multiple rate cuts for the new year and a subsequent global rally pushed Indian markets to its record highs on December 14 morning.
At 10:50 IST, the barometer index, the S&P BSE Sensex, was up 810.24 points or 1.16% to 70,391.40. The Nifty 50 index advanced 225.35 points or 1.10% to 21,154.40.
The Nifty 50 and S&P BSE Sensex hit an all-time high at 21,189.55 and 70,540 respectively in morning trade.
In the broader market, the S&P BSE Mid-Cap index rose 0.71% and the S&P BSE Small-Cap index gained 0.81%.
The market breadth was strong. On the BSE, 2,252 shares rose and 1,195 shares fell. A total of 151 shares were unchanged.
The Nifty IT index advanced 2.63% to 32,910.30. The index fell 1.34% in the past two trading sessions.
Mphasis (up 5.6%), Coforge (up 4.92%), Persistent Systems (up 3.25%), LTIMindtree (up 2.95%), HCL Technologies (up 2.81%), L&T Technology Services (up 2.76%), Tech Mahindra (up 2.63%), Wipro (up 2.45%), Infosys (up 2.24%) and Tata Consultancy Services (up 1.71%) jumped.
Written by Nalin Suriya S.
