Sensex closes at record peak of 52,232 as Covid cases drop
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Sensex closes at record peak of 52,232 as Covid cases drop
TNN / Jun 4, 2021, 05:33 IST
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MUMBAI: Led by strong gains in HDFC Bank, L&T and Titan, the sensex closed 383 points up at 52,232 on Thursday, its highest ever close. The index is just about 300 points away from its all-time peak of 52,526, touched in intraday trade on February 16 this year. The Nifty is already at a new all-time high at near the 15,700 points level as sliding new daily Covid infection numbers and also dipping positivity rate lifted investor sentiment on Dalal Street.
Shares of Larsen & Toubro (L&T) were up 2 per cent at Rs 1,538 on the BSE in intra-day trade on Friday in an otherwise range-bound market. The stock of the construction & engineering major was trading at its highest level since March 12, 2021. It was hovering close to its all-time high level of Rs 1,593 touched on February 2, 2021. The S&P BSE Sensex was up 0.10 per cent at 52,282 points at 09:25 am.
L&T has outperformed the market by surging 15 per cent in the past one month on expectations of healthy orders from both domestic and international markets. In comparison, the benchmark index was up 7.3 per cent during the same period.
India News: India on Friday finally formally cleared the decks for the long-pending Rs 50,000 crore project to domestically construct six new-generation stealth s
Analysts said a cut in the GDP growth forecast for FY22 is all likely. To give growth a chance, the six-member MPC is expected to maintain the status quo on the policy rate and maintain an accommodative stance, despite the prevailing inflation worries, they said.
Credit SuisseL&T (Outperform)Target: ₹1,800CMP: ₹1471.45L&T has achieved FY21 inflows of ₹1.75 lakh crore with EPC of ₹1.33 lakh crore and services of ₹42,100 crore. EPC has declined j