Sensex Today: Indian Benchmarks Hit Record Highs Led by Infosys and HDFC Bank

The Indian stock market benchmarks, BSE Sensex and NSE Nifty50, started Friday at fresh record highs, largely driven by gains in Infosys and HDFC Bank. The BSE Sensex surged to a record high of 81,587 in early trading before paring gains to trade at 81,228, down 115 points or 0.15%. Similarly, the NSE Nifty50 hit a new lifetime high of 24,854 before settling at 24,750, down 50 points.

This dip in indices was influenced by global selling trends. Infosys saw a 4% increase in share price following its better-than-expected Q1FY25 results and an improved revenue growth forecast for FY25 to 3-4%. Other top gainers included HCL Tech, TCS, ITC, and Nestle India. Conversely, top laggards were Power Grid, Ultratech Cement, Tata Steel, NTPC, Tech Mahindra, JSW Steel, Axis Bank, and Bharti Airtel, all of which declined by up to 2.3%.

Market Performance

Sector Performance

The Nifty IT index rose by 1%, supported by gains in key IT stocks. The Nifty FMCG index also saw a modest increase of 0.09%. On the downside, the Nifty Metal and Realty indices were the biggest losers, each dropping over 1%. Additionally, the Nifty PSU Bank, Pharma, and Auto indices each declined by 0.6%.

Global Market Cues

In the US, markets closed lower with the Dow Jones Industrial Average leading the losses, down 1.29%, followed by the S&P 500, which fell 0.78%, and the Nasdaq, down 0.70%. The increase in US weekly jobless claims amid seasonal fluctuations highlighted ongoing volatility in the labor market.

Across Asia, most markets traded in the red. Australia’s ASX200 declined by 1.05%, and South Korea’s Kospi dropped by over 1.05%. Japan’s Nikkei, however, managed to rise by 0.11% after the announcement of inflation figures that met market expectations.

The Indian stock market continues to reflect a blend of domestic optimism tempered by global market conditions, as evidenced by today’s trading session.