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New Delhi. The stock market witnessed a great boom in Thursday's trading session. Today both the market indices closed at an all-time high.Banking, oil and auto sector stocks rallied today. Benchmark stock indices Sensex and Nifty rose over 1.6 per cent to close at lifetime highs on Thursday after the RBI made a record dividend payment to the government.
Today, the BSE Sensex closed at an all-time peak of 75,418.04, up 1,196.98 points or 1.61 per cent from its previous close. During the day, it rose 1,278.85 points or 1.72 per cent to hit its all-time intra-day high of 75,499.91.
Today, the NSE Nifty hit a record high of 23,000 points. It rose 369.85 points or 1.64 per cent to 22,967.65. During the day, the Nifty jumped 395.8 points or 1.75 per cent to 22,993.60 - its intra-day record peak.
Top gainers and losers stocks
Among the Sensex companies, Mahindra & Mahindra, Larsen & Toubro, Axis Bank, Maruti, UltraTech Cement, IndusInd Bank, HDFC Bank, Bharti Airtel, ICICI Bank, Titan, Tata Consultancy Services and Reliance Industries were the top gainers. On the other hand, Sun Pharma, PowerGrid and NTPC shares closed in the red.
Neeraj Chadawar, Head of Fundamental and Quantitative Research, Axis Securities said
Today, the equity market was buoyed after the RBI approved a dividend of Rs 2.1 lakh crore to the government. This indicates better fiscal position and softer bond yields. As a result of this positive move, we are seeing some shortfall. If the election result is in line with the current market expectations, we expect the Nifty to reach new highs in the first week of June.
RBI announced dividend
The Reserve Bank of India will pay a record dividend of Rs 2.1 lakh crore to the government for the financial year ending March 31. This is double the budgetary expectation. This will help raise revenue before the new government takes charge. The RBI board approved the transfer of surplus in its 608th meeting on Wednesday, the central bank said in a statement.
State of the global market
In Asian markets, Tokyo ended in the green while Seoul, Shanghai and Hong Kong ended lower. European markets were trading mostly in the green. Wall Street ended in the negative territory on Wednesday.
Global oil benchmark Brent crude rose 0.33 per cent to USD 82.17 per barrel. According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 686.04 crore on Wednesday.
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