Sensex's Seventh-Day Surge: IT and Auto Stocks Propel BSE Beyond 80,000

The BSE Sensex achieved a new milestone, closing above 80,000 for the first time in four months due to strong performance in IT and auto sectors. Buoyant global trends and foreign fund inflows further lifted market sentiment, while banking shares experienced a decline amid profit-booking.

The stock markets extended their winning streak to a seventh consecutive day as the benchmark BSE Sensex surged 520 points, surpassing the 80,000 level for the first time in four months. This rise was predominantly fueled by substantial gains in IT and automobile shares.

In detail, the 30-share Sensex gained 520.90 points or 0.65% to close at 80,116.49, marking the highest closing level since December 18. During intraday trading, the index even surged 658.96 points or 0.82% to hit 80,254.55, while the NSE Nifty rose 161.70 points or 0.67% to 24,328.95. Foreign fund inflows and positive global market trends added further impetus to the bullish sentiment.

IT sector giant HCL Tech emerged as the top performer with a 7.72% jump after announcing an 8.1% increase in quarterly net profit, driven by large contracts valued at around Rs 25,500 crore. Meanwhile, banking stocks saw a sell-off post the recent rally, with HDFC Bank falling 1.98% as the largest loser among Sensex constituents.

(With inputs from agencies.)