Sensex jumps to all time high of 61,872 pts with 248 pt gain, Nifty breaches 18,400 mark

The market remained choppy, but Indian indices maintained the momentum after starting in the green.

FPJ Web DeskUpdated: Tuesday, November 15, 2022, 04:04 PM IST
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Capitalising on early marginal gains, Sensex ends the day on a positive note 248 points higher at 61,872, while Nifty also jumped above the 18,400 mark, amidst choppy markets. Sensex made gains later in the day to reach the milestone, while Nifty also reached its third-highest level ever. Banking stocks remained strong, providing a boost for Sensex.

Chinese premier Xi Jinping's meeting with US President Joe Biden in Bali sparked hopes of alleviating tensions between the countries, triggering positivity in the markets. As Hang Seng and Chinese counterparts performed well, Nikkei in Tokyo remained flat because of low consumer spending. At the same time, real estate and defense helped European stocks start the day on a positive note.

Apart from banks, oil firms and auto remained in the green, while media and real estate had a subdued ending.

Describing the developments, Geojit Financial's head of research Vinod Nair said, "Following gains in global equities, early losses in the domestic market were reversed with banking stocks steering the recovery. Food and commodity price declines have helped to keep domestic inflation below 7%. Although the CPI has continued to remain above the RBI's tolerance limit of 6%, it is estimated that it will begin to fall within the range from Q1 FY24."

Among global stocks, Vodafone plunge after it cut its growth forecast for the coming year.

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