Sep 15, 2021
By: Bhakti MakwanaIndian 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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Gains in shares of heavyweights Infosys, TCS, Kotak Mahindra Bank and others pushed the indices to record highs.
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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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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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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 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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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’s market cap stood close to touching the ₹4 trillion-mark as it gained 1 percent on Wednesday.
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