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Sensex ends above 66K as tech stocks lead rally
Mint Mumbai
|July 15, 2023
Nifty too hits new record at close; positive US data aids confidence
Market momentum gained traction on Friday with equity benchmarks closing at record highs, aided by easing inflation concerns, a strong rally in information technology stocks, and continued inflows from foreign portfolio investors (FPI) providing crucial support.
The Sensex closed above the 66,000 mark for the first time, ending at 66,060.9. In intraday trade, the Sensex gained nearly 1% to touch a new high of 66,159.79. Likewise, the Nifty 50 closed at a record high of 19,564.50, after gaining 0.77% to reach a fresh high of 19,595.35 in intraday trade.
"Spectacular rally in IT stocks following better-than-expected earnings of select frontline technology companies triggered a late upsurge which propelled the Sensex to close above 66,000," Amol Athawale, vice president, technical research, Kotak Securities Ltd, said.
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