Market Highlights, July 12: Sensex up 622pts, ends atop 80,500; Nifty holds 24,500; IT stocks dazzle | News on Markets
Closing Bell on Friday, July 12, 2024: Benchmarks Sensex, and Nifty50 indices rose to record highs on Friday lifted by a solid rally in information technology (IT) stocks. The BSE Sensex hit surged nearly 1,000 points intraday to hit a record high of 80,893.5, while the Nifty50 zoomed to 24,592 ahead of the CPI inflation data for June.
TCS shares soared nearly 7 per cent today after it posted better-than-expected June quarter (Q1) results for FY25, hinting at a possible demand revival. Infosys, Tech M, and HCL Tech followed suit with up to 3.4 per cent gains. That apart, Axis Bank, RIL, JSW Steel, and Bajaj twins added up to 1.4 per cent, aiding the sentiment.
By close, the BSE Sensex stood at 80,519, up 622 points, and the Nifty50 shut shop at 24,502, up 196 points.
Both the benchmarks advanced up to 0.77 per cent as against a 0.22 per cent dip the BSE MidCap and 0.13 per cent in the BSE SmallCap.
Among sectors, the Nifty IT index rallied 4.5 per cent, and the Nifty Media gained 2 per cent. On the downside, the Nifty Realty index fell 1.5 per cent.
