Nifty hits record high; Adani Ports, Tata Steel lead gainers

Nifty, Sensex, Adani Ports, Tata Steel, US Federal Reserve

(Getty Images)

Domestic equity markets touched all-time high in the first half of trade on Thursday following positive global markets after the US Federal Reserve raised interest rates by 25 bps signaling gradual rate hike in future.

The broader Nifty hit fresh record high of 9152, surpassing 9,122 levels reached on March 14, post BJP's UP election victory. At 11.10 am, the Sensex at the BSE was trading 158 points higher at 29,554 and the Nifty at the NSE was trading 57 points up at 9,142.

Broader markets again outperformed the key benchmark indices. BSE Midcap index gained 1 per cent while Smallcap index rose 0.9 per cent.

All the BSE sectoral indices were trading in the positive zone with Metal index leading the rally, up 2% per cent. Telecom index slipped 0.2 per cent.

On Wednesday, the Sensex had closed 45 points down at 29,398 and the Nifty had closed two points lower at 9,085.

Top gainers in the Sensex-30 pack: Adani Ports (up 4 per cent), Tata Steel (up 2.7 per cent), Asian Paints (up 1.5 per cent), HDFC (up 1.3 per cent) and Infosys (up 1.1 per cent).

Top losers in the Sensex-30 pack: Bharti Airtel (down 0.6 per cent), Hero Motocorp (down 0.6 per cent), ICICI Bank (down 0.5 per cent), Reliance Industries (down 0.4 per cent) and SBI (down 0.3 per cent).

In the global markets, US stocks closed higher on Wednesday following US Fed’s decision to hike interest rates gradually.

Asian markets were trading in the green zone. China’s Shanghai Composite Index and Singapore’s Straits Times Index rose around 0.8 per cent, Hong Kong’s Hang Seng gained 1.5 per cent and Japan’s Nikkei 225 Index was trading flat with a negative bias.

Removing investors’ fear of faster rate hikes, the US Federal Reserve on Wednesday hiked interest rates by 25 bps, as expected, signaling no pick-up in the pace of tightening rates.

Back home, the Rupee continued its upward trend and traded 29 paise higher at 65.63 against the US Dollar.