Sensex tops 64,000, Nifty scales fresh all-time peak of 19,000: Investor wealth jumps over Rs 1.84L cr; IFB Ind & Adani Ent jump up to 5%

Domestic stocks rose sharply in late deals on Wednesday to touch their fresh all-time high levels. The surge was supported by gains in metals, banks, financials, consumer, automobile, pharma and energy stocks. The 30-share BSE Sensex pack surged more than 600 points to hit a record high of 64,050, while the broader NSE Nifty index moved nearly 200 points higher to scale its lifetime peak 19,011. Such was the rise in the domestic bourses that over Rs 1.84 lakh crore of BSE market capitalisation (m-cap) was generated. Buying interest in select heavyweights such as Reliance Industries (RIL), HDFC twins (HDFC Bank and HDFC), Infosys and Tata Consultancy Services (TCS) lifted the indices higher. An uptick in most Adani Group stocks also helped the indices to hit fresh high levels today.

Here's a look at today's market rise in numbers:

Investor wealth jumps Rs 1.84 lakh crore

Investor wealth, as suggested by the BSE m-cap, rose Rs 1.84 lakh crore to Rs 293.97 lakh crore today compared with a valuation of Rs 292.13 lakh crore recorded yesterday.

153 stocks hit 52-week high levels on BSE

As many as 153 stocks hit their 52-week high levels today. BSE 500 stocks such as AB Capital, Angel One, Apar Industries, Aurobindo Pharma, Can Fin Homes, CoForge, Delta Corp, Dr Reddy's and EPL hit their respective one-year high levels. That said, 18 stocks touched their respective one-year lows today.

1,861 stocks in the green

Out of 3,511 stocks, 1,861 stocks were seen advancing. 1,502 stocks were declining, while 148 stocks remained unchanged.

IFB Industries, Adani Enterprises & Quess Corp jump up to 5%

Stocks such as IFB Industries, Adani Enterprises, Quess Corp, Suzlon Energy, Adani Ports, Motilal Oswal, Kalyan Jewellers, UTI AMC, Adani Transmission and Aavas surged as much as 5.17 per cent. A majority of Adani Group stocks were seen trading higher today after it was reported that US-based investment firm GQG Partners made a third round of investment in the ports-to-energy conglomerate.

Banks, IT, pharma & energy stocks among top gainers

For Sensex, the major constituents that pulled the index higher were Reliance, HDFC twins, Infy, TCS, L&T, ICICI Bank, ITC, Tata Motors, Bajaj Finance and SBI. RIL, Infosys, HDFC Bank and TCS alone contributed positively to the over 270-point climb. HDFC duo extended gains today ahead of their merger, effective on July 1.

On NSE, 14 out of the 15 sub-indices were seen trading in the green. Nifty Bank, Nifty IT, Nifty Pharma, Nifty FMCG, Nifty Metal and Nifty Financial Services and Nifty Oil & Gas outperformed the NSE index by rising 0.57 per cent, 0.67 per cent, 0.86 per cent, 0.51 per cent, 1.43 per cent, 0.63 per cent and 0.83 per cent, respectively.

FII-DII data

Foreign institutional investors (FIIs) bought a net Rs 2,024 crore worth of Indian equities during the previous session, while domestic investors sold Rs 1,991 crore of shares, as per provisional NSE data.

Expert views:

Naveen Kulkarni, Chief Investment Officer at Axis Securities PMS, said, "Nifty is at an all-time high, led by solid flows from both DIIs and FPIs and strong fundamentals where we expect earnings to grow at around 15% per cent CAGR for the next two years. The announcement of a tentative effective merger date of July 1 for HDFC Bank - HDFC Ltd has also added to buoyancy in the current market."

Mukesh Kochar, National Head - Wealth at AUM Capital Market, said, "India has emerged as one of the sweet spots as far as investment by FPIs is concerned. They are consistent buyers and have supported the market. Investors should focus on asset allocation rather than timing the market and look for the bigger picture in the long term."

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