Market wrap: Sensex, Nifty end at record closing highs; investors richer by ₹2 lakh crore in a day

As Reuters reported, “Asian shares rose to a four-month high on Friday as US economic data stoked expectations that the Federal Reserve is near the end of its rate-hike campaign.”

US jobless claims were flat for the week ended June 10, fuelling hopes that the Federal Reserve may decide to end its rate-hike campaign as the US labour markets have started to soften.

Sensex and Nifty hit their intraday highs of 63,520.36 and 18,864.70 respectively but failed to breach their all-time high levels of 63583.07 and 18,887.60 which they hit on December 1, 2022.

Sensex closed 467 points, or 0.74 per cent, higher at 63,384.58 while the Nifty ended the day with a gain of 138 points, or 0.74 per cent, at 18,826.

In the 30-share pack Sensex, only four stocks – Wipro (down 1.94 per cent), TCS (down 1.27 per cent), Power Grid (down 0.32 per cent) and Tech Mahindra (down 0.25 per cent) – ended in the red.

Extending their gains into the sixth consecutive session, BSE Midcap and Smallcap indices hit their fresh all-time highs of 28,381.54 and 32,362.35 in intraday trade. The Midcap index eventually closed 0.71 per cent higher at 28,331.32 while the Smallcap index ended with a gain of 0.76 per cent at 32,292.19.

The overall market capitalisation of BSE-listed firms rose to a record high of ₹292.7 lakh crore from ₹290.7 lakh crore in the previous session, making investors richer by ₹2 lakh crore in a single day.

For the week ended June 16, Sensex ended 1.21 per cent higher and Nifty gained 1.41 per cent while the BSE Midcap index rose 2.95 per cent and the Smallcap index rose 2.87 per cent.

(More to come)

Updated: 16 Jun 2023, 03:52 PM IST