Sensex rallies 318 points to close at record high; PowerGrid, TechM top gainers

Equity benchmark Sensex ended at fresh lifetime high on Thursday tracking gains in ICICI Bank, L&T and Tech Mahindra. The 30-share index rallied 318.05 points or 0.58% to end at all-time peak of 54,843.98. The NSE Nifty advanced 82.15 points or 0.26% to record 16,325.15. PowerGrid, closing over 6% higher, was the top Sensex gainer followed by Tech Mahindra, HCL Tech, Titan, L&T, NTPC and ICICI Bank. Dr Reddy’s, IndusInd Bank, Reliance Industries and Axis Bank were among the laggards. Most sectoral indices closed in the green on NSE. IT stocks remained in focus as investors continue to lap-up quality IT names. Nifty Media, closing over 2% higher, was the top sectoral gainer followed by Nifty IT, Nifty PSU Bank and Nifty realty. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with losses. Equities in Europe were largely trading on a positive note in mid-session deals.