Nifty hits all time high, Sensex sails over 51, 350 on positive global cues

Nifty hits a record high on May 28 on the back of positive Asian cues and falling coronavirus cases in the country. Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading in the positive territory on Friday. NSE's Nifty hit a record high of 15,455

Nifty bank and metal indices shine as Nifty hits all-time high at 15,455. Sensex continues to top, jumping over 300 points, amid strong buying interest in heavyweights such as HDFC twins, RIL and ICICI Bank. Nifty futures on Singapore Exchange traded 47 points, or 0.30 per cent, higher at 15,461 signaling that Dalal Street was headed for a positive start on Friday. Investors would be a bit cautious ahead of inflation in the US due later on Friday.

Over 150 stocks have hit a 52-week high on NSE and 252 stocks have hit a fresh 52-week high on BSE including names like ABB, Sonata Software, State Bank of India, V Guard Industries and Bharat Forge among others.

The top index gainers included JSW 72%, Tata Steel 63%, UPL 52%, Aditya Birla 31% and Wipro 22% ONGC which gained 2-3 percent each while SBI, RIL and Sun Pharma are the most active stocks.

Compared to its four-year low of 25,981 hit on March 23, 2020, Sensex has gained 90.78% till date. Similarly, Nifty has clocked a gain of 91.72% from its March 23 low of 7,610.

The sentiment in equity market is so bullish that in eight trading sessions of 2021, Sensex and Nifty have gained 3.76% or 1,793 points and 4.17% or 583.35 points, respectively. Going ahead, analysts are positive on the movement of Sensex and Nifty.