On June 21, the Nifty reached a new record high, driven by gains in IT stocks after Accenture forecasted annual revenue growth above expectations, fueled by the surging demand for its artificial intelligence tools. Accenture’s stock surged over 7 percent in overnight US trading.
The Sensex also moved higher, continuing gains from the previous session, as market sentiment remained positive due to factors such as the upcoming budget, policy continuity, and the potential return of foreign institutional investors (FIIs).
At around 9:45 am, the Sensex was up 0.13 percent at 77,576.47, and the Nifty was up 0.19 percent at 23,612.80. There were 1,932 advancing shares, 967 declining shares, and 116 shares unchanged.
The IT index rose 2.3 percent, with LTIMindtree being the top gainer, up over 3 percent.
Of the 13 sectoral indices, only IT, Healthcare, and Pharma were in the green. The FMCG index was the worst performer.
The broader market, including midcaps and small-caps, outperformed the headline indices, trading 0.5 and 0.6 percent higher, respectively. Investors are now looking forward to the Union Budget, likely to be presented by Finance Minister Nirmala Sitharaman in July.
Major IT stocks, including LTIMindtree, Tech Mahindra, HCL Tech, Infosys, and TCS, were the top performers on the Nifty. Meanwhile, Tata Steel, HUL, Kotak Mahindra Bank, HDFC Bank, and Tata Motors were the top laggards. The fear gauge, India VIX, decreased by 0.5 percent to settle at 13.49 on June 21.
Disclaimer: We advises users to consult with certified experts before making any investment decisions.
