Sensex, Nifty hit a new record level due to strong buying in Reliance shares

Traders said that the positive trend in global markets and reduction in new cases of Kovid-19 also strengthened the market sentiment. The 30-share Sensex of BSE closed at 52,551.53 points, up 76.77 points or 0.15 per cent. This is its new high. Sensex closed with gains for the third consecutive day.

NEW DELHI: Sensex and Nifty on Monday recovered from early losses and closed at their new all-time highs on strong buying in Reliance Industries shares.

Traders said that the positive trend in global markets and reduction in new cases of Kovid-19 also strengthened the market sentiment. The 30-share Sensex of BSE closed at 52,551.53 points, up 76.77 points or 0.15 per cent. This is its new high. Sensex closed with gains for the third consecutive day.

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Similarly, the Nifty of the National Stock Exchange closed at a new record high of 15,811.85 points with a gain of 12.50 points or 0.08 per cent. Among the Sensex companies, the stock of Reliance Industries climbed 1.46 percent. Shares of Bajaj Finance, ONGC, Infosys, PowerGrid, L&T, and IndusInd Bank were also gainers.

On the other hand, Kotak Bank, HDFC, Sun Pharma, Bajaj Auto, NTPC, Maruti and HDFC Bank lost up to 1.51 per cent. Meanwhile, shares of the Adani group companies fell sharply. This is because of reports that National Securities Depository Ltd. (NSDL) has frozen the accounts of three foreign funds. These foreign funds are the largest shareholders in the group companies. However, the Adani Group has said that thereafter it has been confirmed in writing that the accounts of these three foreign funds have not been frozen. The news about this is misleading.

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Vinod Nair, Head of Research, Geojit Financial Services, said, "While domestic markets opened with a negative trend, they recovered in afternoon trade led by major players. Inflation based on the Wholesale Price Index for May has reached 12.94 per cent, indicating that the prices of fuel and manufactured products are at higher levels. "

Nair said the Federal Reserve will meet on June 15-16. This will decide the attitude of the investors in the coming days. BSE Midcap and Smallcap declined 0.68 per cent. In other Asian markets, Japan's Nikkei and South Korea's Kospi ended in gains. There was a holiday in the markets of China and Hong Kong.

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European markets were up in afternoon trade. Meanwhile, international benchmark Brent crude oil rose 0.94 per cent to $73.37 per barrel. The rupee lost 22 paise to close at 73.29 per dollar in the interbank foreign exchange market. According to the data of the Ministry of Health, 70,421 cases of Kovid-19 infection have been reported in the country in a day. This is the lowest figure of 74 days. With this, the total number of active cases has come down to below 10 lakh.

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