Nifty hits new life peak, Sensex surpasses 66K, Maharatna PSUs top losers

Investing.com -- Major Indian indices made a positive opening on Thursday, tracking a sharp uptick in Asian markets fueled by a softer-than-expected US June inflation data, raising bets of a less hawkish Federal Reserve stance going ahead.

The benchmark index Nifty 50 scaled a new all-time high on July 13, 2023, surpassing the 19,560 mark at 19,566.65 points, while the 30-scrip Sensex also hit a new peak of 66,049.45 points in the session.

At 01:30 ET (05:30 GMT), the gauge of India’s top 50 companies surged 0.87% to 19,552.05 levels, and Sensex jumped 0.93% or 607.14 points.

Over the past one-month period, the headlines Nifty 50 and Sensex have increased significantly by 4.45% and 4.5%, respectively.

Gains across the domestic market were led by a rally in IT stocks, following the June quarter earnings results of India's top IT giants TCS (NS:TCS) and HCL Tech (NS:HCLT) on Wednesday. Also, IT behemoth Wipro (NS:WIPR) is set to release its earnings for the June quarter on Thursday.

All the sectoral indices listed under the Nifty umbrella traded in the green, led by a 2.5% massive jump in Nifty IT, followed by Nifty Metal and Nifty Financial.

On the Nifty 50 pack, Hindalco (NS:HALC), TCS, Infosys (NYSE:INFY) (NS:INFY), HDFC Life (NS:HDFL), SBI Life (NS:SBIL), and Tech Mahindra (NS:TEML) led the rally, while Maharatna PSUs PowerGrid Corporation (NS:PGRD) and Coal India (NS:COAL) exerted pressure.