The Sensex hit a record high for the fourth straight day, crossing the 81,000 mark for the first time.

Equities: Domestic bourses set record for the fourth straight day as shares of IT, oil and gas and consumer goods companies were bought. At the close of trade, the Bombay Stock Exchange (BSE) Sensex surged 627 points to close above 81,000 points for the first time. The National Stock Exchange (NSE) Nifty also touched a fresh high of 24,800. The Sensex ended 627 points higher at 626.91 points, or 0.78 per cent, at 81,343.46 on a 30-share basis. The market, which was initially weak, touched a low of 80,390.37 points at one point. The Sensex recovered losses in the afternoon trade as IT stocks such as TCS, Infosys and Tech Mahindra and Reliance Industries, which have strong holdings in the index, recovered. It rose 806 points or 0.99 percent to touch a new record high of 81,522.55 points in the period. The National Stock Exchange's Nifty also recovered from early losses to close at a fresh high of 24,800.85, up 187.85 points or 0.76 per cent. It rose 224.75 points to touch 24,837.75 points during the trade. Vinod Nair, head of research at Geojit Financial Services, said that buying in IT companies and stocks in IT companies led the market higher in the afternoon. trade and it reached a new high. Investors are keen on the sector as the country's major IT companies performed well in the June quarter and the rupee depreciated. According to analysts, softening US bond yields on expectations of a rate cut by the US Federal Reserve in September has also increased the flow of FIIs into the Indian market. Tata Consultancy Services (TCS) rose 3.33 percent on the Sensex. Infosys shares rose 1.93 percent ahead of financial results. Infosys released financial results after the market closed. The company's consolidated net profit rose seven percent to Rs 6,368 crore in the April-June quarter. Infosys has also raised its growth outlook for the current fiscal. Other gainers included Bajaj Finserv, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies. In contrast, Asian Paints, JSW Steel, NTPC and Adani Ports suffered heavy losses. Also Read: PO RD Account: Account for just Rs 100, compound interest every 3 months: Status of Asian Markets: China's Shanghai Composite and Hong Kong's Hang Seng are profitable in Asian markets. South Korea's Kospi and Japan's Nikkei showed losses. Major markets in Europe were bullish during today's trade. Global oil benchmark Brent crude was down 0.14 percent at $84.96 a barrel. Foreign institutional investors (FIIs) bought shares worth Rs 1,271.45 crore on Tuesday, according to stock market data. The BSE Sensex and the NSE Nifty are at record highs since Friday. Both the benchmark indices hit all-time highs in four sessions. The Nifty gained 485 points or 1.98 percent and the Sensex gained 1,446 points or 1.79 percent during the period. Also Read: EPF vs NPS: EPF or NPS, Which is better for your retirement fund? The post Sensex hits record for fourth straight day, crosses 81,000 for first time appeared first on Prabhat Khabar.