Sensex and Nifty Hit Record Highs Amid Positive Export Data

Benchmark indices Sensex and Nifty reached new closing highs, driven by gains in major companies like HDFC Bank and Reliance Industries, while positive export data further bolstered market confidence. However, foreign capital outflows and a lack of fresh triggers capped sharper gains. The Sensex rose 181.87 points to close at 76,992.77, while the Nifty increased 66.70 points to close at 23,465.60.

Benchmark equity indices Sensex and Nifty achieved new lifetime high closes on Friday, driven by robust buying in heavyweight stocks such as HDFC Bank, Reliance Industries, and Mahindra & Mahindra, amid encouraging export data.

While the indices saw substantial rises, foreign capital outflows and a lack of strong new triggers kept the gains in check, according to traders. The 30-share BSE Sensex gained 181.87 points, or 0.24%, closing at a new peak of 76,992.77, after surging 270.4 points intraday to 77,081.30. Simultaneously, the NSE Nifty rose by 66.70 points, or 0.29%, to close at a record 23,465.60, touching an all-time high of 23,490.40 during the day.

On a weekly scale, Sensex climbed 299.41 points, or 0.39%, and the Nifty advanced 175.45 points, or 0.75%. Vinod Nair, Head of Research at Geojit Financial Services, noted a temporary dip in market momentum due to the lack of new triggers following the hawkish commentary from the US Federal Reserve, which lowers the likelihood of a near-term rate cut. A possible near-term consolidation is anticipated as domestic investors await cues from the upcoming union budget.

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