NIFTY 50 scales new peak supported by financial stocks, Paytm hits upper circuit

Benchmark NIFTY50 index trades higher, touching an all-time high of 22,157, extending the gains witnessed in early morning trade. Meanwhile, SENSEX showed a parallel gain of 0.42%, reaching 72,732. Out of the NIFTY50 space, 40 stocks are advancing.

Markets extended the winning streak for the fifth straight session, supported by gains in Asian markets. The China market is trading higher as they resume trading following the week-long Lunar New Year break. Meanwhile, so far this month, the NIFTY50 index is up nearly 2%.

Gains in heavyweight stocks like ICICI Bank (+1.5%), ITC (+1.4%), Bharti Airtel (+1.5%), Bajaj Finance (+2.2%) supported the NIFTY50 rise. On the sectoral front, NIFTY FMCG and Pharma indices were among the top gainers, while NIFTY Realty is the sole loser today.

The broader market was also on the run, with NIFTY Midcap 100 index rising 0.7%, while NIFTY Smallcap 100 gained 0.6%.

Quess Corp hits 52-week high on demerger announcement. The company’s board approved spinning off its business operations into three independent entities to unlock value.