Sensex Surges Nearly 600 Points To End At Record Closing Level

Mumbai:  The Indian stock market surged on Friday with both the BSE Sensex and the Nifty50 on the National Stock Exchange (NSE) settling at record high closing levels.

Earlier in the day, Sensex crossed the landmark 55,000 mark for the first time in its history and touched its all-time intra-day high of 55,487.79 points.

It closed at 55,437.29, higher by 593.31 points, or 1.08 per cent, from its previous close of 54,843.98.

It had opened at 54,911.95 and touched an intra-day low of 54,905.49 points.

The Nifty50 on the National Stock Exchange closed at 16,529.10, higher by 164.70 points, or 1.01 per cent, from its previous close.

Nifty also recorded its all-time high of 16,543.60 points during the day.

Analysts said that healthy macro-economic data, as well as hopes of a faster economic revival, lifted India’s key equity market indices.

On Thursday, the Index of Industrial Production (IIP) for June showed a rise of 13.6 per cent from a decline of 16.6 per cent reported for the like month a year ago

Further, data furnished by the National Statistical Office (NSO) showed that the Consumer Price Index (CPI) slipped to 5.59 per cent last month from 6.26 per cent in June.

The top gainers on the Sensex were Tata Consultancy Services (TCS), Larsen & Toubro and Bharti Airtel, while the major losers were Power Grid, IndusInd Bank, and Bajaj Finance.

(IANS)