Sensex, Nifty Hit Fresh Record Closing Highs

India’s third-largest software exporter Wipro rose 3.1%, leading gains on the Sensex, after saying it will consider a share buyback proposal on July 20. The 30-share BSE Sensex gained 54.03 points to close at 32,074.78 while the broader 50-share NSE Nifty closed at 9,915.95, up by 29.60 points. This was the fresh lifetime highs for both the indices. “The development in earnings season will also navigate the direction in the interim”, said Anand James, Chief Market Strategist, Geojit Financial Services. The Sensex started on a high note before trading at 32,131.92 at 1100 hours, up 111.17 points, or 0.34 per cent.

On the sectoral front, barring the Nifty FMCG index, which lost 1.70 per cent, all indices ended in green.

Market heavyweight Reliance Industries crossed the Rs 5 lakh crore market capitalization for the first time ever before closing about 1 percent higher.

ITC (down around 2 per cent) was among the top Nifty50 losers.

Ahead of Wipro’s board meeting this week on stock buyback and quarterly results, its shares rose by over 3 per cent today, adding Rs 3,949 crore to the firm’s market valuation.

Fortis Healthcare plummeted 8.4 percent and Religare Enterprises shed 3.6 percent after India Ratings and Research downgraded RHC Holding’s NCDs to default.

In other news, Vikram Limaye took over as managing director and chief executive officer of the National Stock Exchange (NSE).

Meanwhile, the Hang Seng index surged to its fresh two-year highs to 26,470.58 up, 0.3 per cent, Reuters reported.