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Sensex, Nifty hit record highs in early trade

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Equity markets soared on Friday with benchmark indices Sensex and Nifty hitting record highs as bank and energy stocks rallied. At 9.15 am, the 30-share BSE Sensex opened 0.34%, or 176.72 points, higher at 52,477.19, and the broader 50-share Nifty index opened at 15,796.45, up 58.70 points, or 0.37%.

During the day, BSE Sensex rose 326.17 points to hit its lifetime intraday high of 52,626.64, while the Nifty 50 jumped 97.80 points to touch a fresh all-time high of 15,835.55. At 10.56 am, the BSE benchmark was trading at 52,594.81, up 294.31 points while the Nifty50 was up 86.85 points at 15,824.60.

The gains were led by Reliance Industries, Housing Development Finance Corporation, HDFC Bank, Infosys and Power Grid Corporation of India. On Nifty, all the sectoral indices were trading higher led by Nifty Metal, Nifty PSU Bank, Nifty Pharma and Nifty Auto.

On NSE, PowerGrid Corporation, Coal India, JSW Steel, Hindalco Industries and Reliance Industries were the top gainers and Tech Mahindra, Titan Company, Divi’s Laboratories, ONGC and Wipro were the top index losers.

The market’s stellar performance comes as investors await the industrial output data for April to be released later on Friday. Meanwhile, the United States’ inflation data allayed investors’ worries. It offered the much-needed…

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