Sensex, Nifty scale fresh record highs, rise for 4th day in a row

Mumbai, Mar 4 (PTI) Benchmark equity indices Sensex and Nifty closed at new record levels on Monday in a highly volatile trade driven by gains in energy and bank shares and a rally in Asian markets.

Extending its rally to the fourth straight session, the 30-share BSE Sensex climbed 66.14 points or 0.09 per cent to settle at an all-time high of 73,872.29. During the day, it jumped 183.98 points or 0.24 per cent to 73,990.13.

The Nifty rose by 27.20 points or 0.12 per cent to close at a lifetime high of 22,405.60 points. During the day, it hit an all-time high level of 22,440.90.

Among the Sensex firms, NTPC, Power Grid, Reliance Industries, Bajaj Finserv, Axis Bank, Tech Mahindra, ICICI Bank, Bharti Airtel and IndusInd Bank were the biggest gainers.

JSW Steel, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Infosys and Titan were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green.

European markets were trading on a mixed note. The US markets ended with gains on Friday.

Global rating agency Moody’s on Monday raised India’s growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of ‘stronger-than-expected’ economic data of 2023 and fading global economic headwinds.

In a special trading session on Saturday, the BSE benchmark Sensex climbed 60.80 points or 0.08 per cent to reach its all-time closing high of 73,806.15. The Nifty went up by 39.65 points or 0.18 per cent to settle at a new closing high of 22,378.40.

Leading stock exchanges BSE and NSE conducted a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site.

Global oil benchmark Brent crude climbed 0.30 per cent to USD 83.80 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 81.87 crore on Saturday, according to exchange data.