Sensex scales to another record high led by energy, IT stocks; Bharti Airtel crosses 4 trillion market cap

Sep 15, 2021

By: Bhakti Makwana

Sensex hits 58,600 points

Indian benchmark index Sensex hit another record high of 58,600 points on September 15 at around 12:30 p.m., led by a rally in oil, information technology (IT) and public sector bank stocks.

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Heavyweights Infosys, TCS push the index to record high

Gains in shares of heavyweights Infosys, TCS, Kotak Mahindra Bank and others pushed the indices to record highs.

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Most stocks were trading higher on the index

Market breadth remained good as out of 30 stocks in Sensex, shares of 21 companies went up and 9 traded lower.

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Shares of Infosys gained 2 percent

Infosys was up nearly 2 percent. The Indian government had set September 15 as the deadline for the Bengaluru-based IT major Infosys to fix the income tax portal. Reports say glitches were not still not resolved.

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State-owned power generation company was the top gainer on Sensex

NTPC was the top gainer on the index with share gains of 5 percent as analysts were bullish on the energy company stock.

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Bharti Airtel crossed ₹4 trillion market cap

Bharti Airtel was the second runner up on the index with highest gains as telecom stocks jumped ahead of the Union Cabinet meeting scheduled on Wednesday to consider financial relief to embattled companies.

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Telecom service provider Bharti Airtel has crossed ₹4 trillion mark in terms of market capitalisation led by slew of positive reports.

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Reports says government to announce relief package to telecom companies on Wednesday

Recently, telecom companies have been under pressure due to concerns over high debt. To provide some relief to the industry, the government is reportedly mulling a relief package including a one-year moratorium on spectrum payments due in April 2022.

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SBI to soon join ₹4 trillion club

SBI’s market cap stood close to touching the ₹4 trillion-mark as it gained 1 percent on Wednesday.

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Indian Prime Minister Narendra Modi makes his points on China, Afghanistan and Pakistan at the United Nations General Assembly