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Auto, IT stocks lead Nifty’s surge to all-time high levels

Auto, IT stocks lead Nifty’s surge to all-time high levels

Mumbai, Sep 15 (SocialNews.XYZ) Most of the sectoral indices were in green at close on Friday, with Nifty Auto, Nifty IT leading the way with gains of 1.58 per cent and 0.53 per cent, respectively, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio.

Nifty scaled fresh life highs on Friday, rising for the third consecutive session to close at 20,192, up 89.3 points, while Sensex climbed 320 points to close at 67,838. 


Friday's semi-annual rebalancing by the FTSE brought about a huge amount of trading as they added 26.10 million shares of HDFC Bank and several other companies, Vidwani said.

Bajaj Auto, Bharti Airtel, Mahindra and Mahindra, Hero MotoCorp, Grasim were among the top gainers, while all Nifty 50 stocks were in green on Friday.

Domestic equities continued their winning streak following their global peers, boosted by better-than-expected Chinese and US economic data as well as optimism that the European Central Bank may be close to peak interest rates, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Further decline in India VIX by 4 per cent to 10.9 added to the positivity.

Nifty has been scaling new highs over the last few sessions as the sentiments strengthened post the successful G20 execution, which is likely to bolster India’s economy in the global arena.

Further lower CPI and wholesale inflation in India are comforting amid the global inflationary scenario, Khemka said.

Source: IANS

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Auto, IT stocks lead Nifty’s surge to all-time high levels

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