Bull run continues: Sensex ends above 67,000-mark for first time, investors earn Rs 1.6 lakh crore in a day

Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets. Buying in index majors Reliance Industries and ITC also helped the markets maintain their winning momentum. The 30-share BSE Sensex rallied for the fifth day, jumping 302.30 points or 0.45 per cent to settle at its new record closing high of 67,097.44. It also reached its all-time intra-day peak of 67,171.38, gaining 376.24 points or 0.56 per cent during the day.

Meanwhile, the NSE Nifty gained 83.90 points or 0.42 per cent to end at its lifetime closing high of 19,833.15. It climbed 102.45 points or 0.51 per cent during the day to hit a fresh record intra-day peak of 19,851.70.

Due to this, the market cap of companies listed on BSE also reached its new high of Rs 304.62 lakh crore on Wednesday. The wealth of stock market investors has increased by about Rs 1.6 lakh crore today. Barring IT stocks, all other stock indices closed in the green with gains. Buying was seen in midcap and smallcap stocks.

Among the Sensex gainers were NTPC, Bajaj Finance, IndusInd Bank, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Motors, ITC, Power Grid, and Larsen & Toubro.

IndusInd Bank's stock climbed 2 per cent after the company reported a 30 per cent jump in consolidated net profit in the April-June quarter, reaching Rs 2,124.50 crore, supported by core income growth and lower bad loan provisions.

However, Tata Consultancy Services, Bharti Airtel, Maruti, Hindustan Unilever, Nestle, and ICICI Bank were among the laggards.

Foreign Institutional Investors (FIIs) continued their buying activity on Tuesday, purchasing equities worth Rs 2,115.84 crore, according to exchange data.

In Asian markets, Seoul, Tokyo, and Shanghai closed in the green, while Hong Kong saw a decline. Equity markets in Europe were trading positively, and the US markets ended in the positive territory on Tuesday.

Vinod Nair, Head of Research at Geojit Financial Services, commented on the market's performance, stating that despite the current high levels, domestic investors have retained confidence in the Indian economy. He mentioned the broad-based rally, supported by encouraging domestic macroeconomic data and sustained inflows from FIIs. Additionally, the global market's outlook is providing comfort to the rally, anticipating a moderation in global inflation.

Brent crude, the global oil benchmark, climbed 0.60 per cent to reach USD 80.11 a barrel.

The Asian Development Bank (ADB) retained India's economic growth forecast at 6.4 per cent for the current financial year and 6.7 per cent for the next, citing robust domestic demand supporting the region's recovery.