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Sensex Hits 60,000 For First Time In History

The bulls continued to dominate the Dalal-Street and sent the Sensex beyond 60,000 points in the opening deals on Friday, while the Nifty-50 also made a fresh record high of 17,947.65. The IT sector was the top performer in the morning session as the Nifty IT index gained over two per cent led by shares of Infosys, HCL Tech, and TCS.

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The Dalal-Street marked a historic day on Friday, September 24 as the BSE Sensex crossed mount 60,000 for the first time on the back of several factors like ample liquidity, progress in economic outlook of the country, rise in retail participation and strong forein inflows, and strong vaccination drive in the country, said experts.

The Sensex in the opening deals made a high of 60,333, whereas the Nifty-50 hit 17,947.65. At 9:50 AM, the BSE Sensex was up 335.75 points at 60,221.11, while the Nifty-50 was trading higher by 94.65 points at 17,917.60. Shares of Larsen and Infosys were the top gainers in the 30-share pack Sensex as they jumped over two per cent, while those of HCL Tech and TCS gained a per cent each.

Among the sectors, barring metal and and energy, all other sectors were trading with positive bias in the morning deals on Friday. The Nifty IT was the top gainer as the index added more than two per cent led by shares of HCL Tech, TCS, and Infosys. The Realty sector also continued its outperfomance and was trading up over two per cent with Oberoi Realty being the top gainer, up 11 per cent.

Experts are of a view that Indian markets have performed relatively well in the current month with a strong support from forein inflows and other domestic cues that played in the market. The outperformance of India during September so far is stunning with MSCI World Index down 2.13 per cent and Nifty up by 4.03 per cent, said experts.

On Sensex at 60,000, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "Reaching this milestone would be quite an achievement in these Covid times and a shot in the arm for bulls who are in total control of this market."

Tracking the fund flows of Thursday, September 23, Foreign institutional investors (FIIs) net purchased shares worth Rs 357.93 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,173.09 crore in the Indian equity market, as per the provisional data available on the exchanges.

Overall in the markets at the time of filing, 1168 shares advanced and 556 shares declined in the NSE.

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