Mumbai/UNI: In spite of erasing some of the intraday gains, the Benchmark indices managed to end in green territory on Friday, with Sensex corssing 60,000 for the first time ever.
At the close, the Sensex was 163.11 points or 0.27 per cent up at 60,048.47 while Nifty was 30.25 points or 0.17 per cent up at 17,853.20.
The Sensex, which opened at 60,158, registered day's high and low at 60,333.00 and 59,946.55 respectively.
Similarly, the Nifty, which opened at 17,897.45, recorded day's high and low at 17,947.65 and 17,819.40 points respectively.
Among the pack of 30 stocks at BSE, Tata Steel, SBI, Axis Bank, ITC, Hindustan Unilever were among the top draggers while Asian Paint, Mahindra and Mahindra, HCL Tech, HDFC Bank were among the top gainers.
At NSE, Asian Paints, Eicher Motors, M&M, HCL Technologies and HDFC Bank were among the top gainers while losers included Tata Steel, JSW Steel, SBI, Divis Labs and Axis Bank.
BSE midcap index was down one per cent while small cap index fell 0.3 per cent.
Barring, IT, Auto and Realty, all other sectoral indices ended in red.
Commenting on the development, Sensex crossing 60,000 milestine Sandeep Bharadwaj, CEO, Retail, IIFL Securities, said, ''Expectations of solid economic recovery and sustained growth in the next couple of years is keeping the bulls enthused. Also from a global funds perspective, India remains an attractive destination, especially in the China+1 scenario. Having said that retail investors must have a diversified portfolio at this stage to face any kind of volatility.”
Commenting on the development, Sandeep Bharadwaj, CEO, Retail, IIFL Securities, said, ''Expectations of solid economic recovery and sustained growth in the next couple of years is keeping the bulls enthused. Also from a global funds perspective, India remains an attractive destination, especially in the China+1 scenario. Having said that retail investors must have a diversified portfolio at this stage to face any kind of volatility.”
Ashishkumar Chauhan, MD and CEO, BSE, congratulated citizens of the country and the investors on Sensex crossing 60,000 mark first time ever
In a statement, he said, ''Sensex reaching 60,000 today first time ever on September 24,2021 is an indicator of India's growth potential, as well as the way India is emerging as a world leader during COVID period in addition to worldwide monetary expansion and relaxed fiscal policies adopted by world powers. Indian markets are considered the best performing markets world over in last 18 months of COVID period due to astute policies and implementation of government, private sector and every one else involved.''
''Many more investors are also joining the stock markets directly or indirectly through Mutual funds thanks to automation in the markets, new age brokerages and low interest rates in india. The increase in stock prices has been broad based in recent period. I take this opportunity to congratulate all Indians citizens and investors for this achievement,” he said.
Amar Ambani, Senior President and Head of Institutional Equities at YES SECURITIES, said,“The Sensex has hit 60,000 much ahead of our target date of December 2021. We continue to remain positive on the long term outlook of Indian equitas. Corporate balance sheets have been significantly strengthened with record equity raise in last two years. On the revenue front, the listed universe is on firm ground with accelerated trend of unorganized to organized, digital super-cycle and sustained cost management.''
''We expect the government to continue spending on infrastructure and fast track the reform agenda as we have seen with lowered corporate tax rates, PLI schemes, RBI support, strategic divestments and so on. With accommodative financial conditions worldwide, we see the mega rally in risk assets continuing,'' he said.