Sensex Hits A New Historic High Of 60,000 Points, Nifty Inches Towards 18,000 Pts

Relentless buying by domestic institutional investors powered largely by mutual funds drove the Sensex to a new record high of 60,000 points.

Global cues too turned strong with the Dow Jones jumping 500 points on Thursday, while the Japanese Nikkei was up more than 2% in trade. The FOMC meet, which did not sound too hawkish also helped to boost sentiments.

The Sensex was last see trading higher by 335 points at 60,221 points, while the Nifty was up 100 points in trade at 17,923 points. Leading the gainers were some of the IT stocks like Infosys and Wipro, as well as Tata Motors.

"On the domestic front, with active cases falling to 6-month low, and vaccination robust pace continuing along with Government's proactive policies, sentiments continue to be buoyant with regards to healthy economic recovery. However, given rich valuations, one cannot ignore intermittent volatility and hence traders should navigate cautiously," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Among the top losers in trade today were some of the metal stocks like Hindalco and JSW Steel.