India's Sensex powers past 75,000, NSE market capitalisation tops $4.81tr
Business
Tata Motors gained 1pc, leading auto stocks 0.3pc higher
BENGALURU (Reuters) – India's benchmark share indexes hit all-time highs on Tuesday, with the blue-chip Sensex rising above 75,000 for the first time, while the total market capitalisation of NSE-listed companies crossed 400 trillion rupees ($4.81 trillion).
The NSE Nifty 50 was up 0.40 per cent at 22,756.40 as of 10:45 am IST, while the S&P BSE Sensex added 0.46pc to 75,085.01. Both the benchmarks rose about 0.5pc at the open to hit record highs for the second straight session.
Meanwhile, the total market capitalisation of all BSE-listed companies rose more than 400 trillion rupees on Monday.
"Most of the quarterly updates that have come, be it from lenders, auto makers, steel makers, real estate companies, they have been good, that's driving the positivity in the market," said Anita Gandhi, director at Arihant Capital Markets.
Tata Motors gained 1pc, leading auto stocks 0.3pc higher, after the company reported a quarterly rise in its Jaguar Land Rover's sales.
Realty stocks gained about 2pc, led by a 7pc jump in Godrej Properties to record high levels on higher March quarter sales.
Metal stocks gained 1.5pc, with 13 of the 15 constituents logging gains.
The rise in metal stocks followed a jump in industrial metal prices on expectations of a rebound in worldwide manufacturing, aided by strong data from the US, China and Germany the last week.
IT stocks gained 1.2pc, rebounding from a 1pc drop in the last two sessions.
The broader, more domestically-focussed small-caps and mid-caps each rose 0.6pc and 0.3pc. They have gained 8.1pc and 4.41pc, respectively, so far in April, recovering from a 4.42pc and 0.54pc drop in the previous month.
"The concerns over unsustainably high valuations in the segments still remain. Earnings will be key in distinguishing quality from momentum-driven names," Arihant Capital's Gandhi said.
