Indian benchmark indices Sensex, Nifty hit a new all-time high

On Tuesday, Indian benchmark indices Sensex and Nifty hit an all time high led by gains in energy stocks after a cut in windfall tax on crude and firm trends in global markets. The rally was also aided by Defence stocks.

Market Opening Tuesday

During the early trade Sensex inched up 334.03 points higher to hit its fresh lifetime peak of 77,326.80 while the NSE Nifty 50 went up by 108.25 points to hit its new all-time high of 23,573.85.

Tech Mahindra, Infosys, Bharti Airtel, Hindustan Unilever, Wipro, Titan, Mahindra & Mahindra, were the biggest gainers. Maruti, Kotak Mahindra Bank, HDFC Bank and ICICI Bank were among the laggards.

Sectorally, Nifty Realty and Consumer Durables were the biggest gainers with a gain of over a per cent. Amid the rally, Pharma and Healthcare remained only two sectoral indices in red.

Meanwhile, led by a 1.2% gain in ONGC, energy stocks rose 0.5%. This comes as the government cut the windfall tax on petroleum crude to 3,250 rupees per metric ton from 5,200 rupees, effective from June 15. IT sector also extended gains with shares of IT major Wipro rising 3% after announcing an extension of its digital transformation partnership with apparel maker Hanesbrands.

Public Sector Enterprise (PSE) rose 1%, on course to extend its post-election results rally to the ninth session. Top PSE gainers include Hindustan Aeron, Bharat Electronics, Power Grid Corporation, IRCTC, NTPC.

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