The 30-share BSE Sensex soared 388.15 points, or 0.47 per cent, to hit an all-time intra-day high of 82,129.49 in early trade.
Shares of North Eastern Carrying Corporation (NECC) are in focus today as the company has announced its quarterly results for Q1 FY25. The company’s consolidated net profit jumped to Rs 3.67 crore for the quarter ended June 2024. This is a surge of 147 per cent from Rs 1.49 crore in the corresponding quarter of the previous year. The total income for this quarter was approximately Rs 78 crore, while it was reported at over Rs 92 crore sequentially.
Meanwhile, the counter opened in green at Rs 38.52 and surged further to touch the high of Rs 38.65. However, it lost the initial gain amid selling pressure and fell down to Rs 36.49. Last seen, the counter was trading at Rs 36.50. The 52-week high of the stock is Rs 44.40 and the 52-week low is Rs 18.40.
Meanwhile, benchmark BSE Sensex jumped 388 points to breach the 82,000-level for the first time while broader Nifty spurted 108 points to hit the record 25,000-mark in early trade on Thursday after the US Federal Reserve indicated a rate cut by September.
The 30-share BSE Sensex soared 388.15 points, or 0.47 per cent, to hit an all-time intra-day high of 82,129.49 in early trade. The broader Nifty of NSE scaled the record 25,000 level for the first time, rising 127.15 points, or 0.50 per cent, to 25,078.30.
Among Sensex shares, Maruti rose 2.93 per cent following its stellar June quarter results. Adani Ports, Power Grid, JSW Steel, and Tata Steel were also among major gainers. Gains in index heavyweights HDFC Bank, Reliance Industries, and ICICI Bank shot the index to record high levels.
On the other hand, M&M, Sun Pharma, ITC, Infosys and TCS were among the losers, capping index gains.
“The Fed chief signalling a possible rate cut in September is positive for global equity markets. More important, his comments that the US economy is normalising is a shot in the arm for bulls,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.