Mumbai: Indian indices opened at new record levels on Friday, with the BSE Sensex crossing 58,000 for the first time, boosted by favorable global cues.
The BSE Sensex soared to a new all-time high of 58,115.69, while the broader NSE Nifty soared to 17,311.95 on the last trading day of the week.
The record-high levels for both indices come when the market is flush with liquidity and solid global cues. Both are set for their second straight weekly gain.
The top Sensex gainers were Kotak Mahindra Bank, Reliance Industries Ltd (RIL), Titan Company, IndusInd Bank, Tata Steel, ICICI Bank, Axis Bank, and State Bank of India (SBI).
Sensex laggards were HCL Tech, Tata Consultancy Services (TCS), Maruti Suzuki, Nestle India, Hindustan Unilever Ltd (HUL), and Tech Mahindra.
All of the sectoral indices were trading in the green, except for Nifty FMCG, Nifty IT, and Nifty Pharma. The Nifty was led by the PSU Bank, auto, and realty stocks. About 1772 shares have advanced, 833 shares declined, and 120 shares are unchanged.
Yesterday, Nifty closed up 157.90 points or 0.92% at 17234.20, led by IT and FMCG stocks, while the Sensex was up 514.33 points or 0.90% at 57852.54.
Meanwhile, Reuters reported that Reliance and Eicher Motors Ltd gained 1.2 percent and 2.4 percent, respectively, on the Nifty 50..
Shares of HDFC Life Insurance Co Ltd fell as much as 4.2 percent after it said it would buy the life insurance unit of battery maker Exide Industries Ltd for 66.87 billion rupees ($915.02 million), while Exide Industries surged nearly 10 percent.