Benchmark Indices Hit Fresh High Despite Weak Sentiment In Asian Markets

The benchmark indices in trade today have hit a fresh high with Nifty breaching 16000 levels for the first time. Also, on the Sensex 53,402.03 levels have been hit. The sharp rally in the Indian markets is seen despite weak sentiment in the Asian markets. Notably, the previous crucial level on the Nifty of 15,000 points was hit on February 5, 2021.

Broader markets however underperformed with Nifty Midcap 100 trading with losses of 0.14%. Nonetheless, fresh highs have been hit on small and mid cap indexes too in trade today.

Top gainers on the Nifty in today's trade have been Titan, Sun Pharma, HDFC, Bharti Airtel and IndusInd Bank, while laggards included stocks like JSW Steel, Tata Steel, Hindalco, Grasim and ONGC.

Among the Nifty sectoral indices, barring media and metals all indices traded in the green. Maximum strength came in from FMCG and pharma space which were seen gaining over 1% each, while other indices from Nifty PSU Bank to Nifty index also traded higher between 0.2-0.8%.

Infosys in trade today has hit a fresh high of Rs. 1647 and on the price surge has surpassed the market capitalization of Rs. 7 trillion.

Meanwhile, Asian markets traded mostly in the red with Hong Kong's Hang Seng and Japan's Nikkei down by up to 0.5%.

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