Stock market sets a new record

The stock market on January 8 hit an all-time high. The Sensex gained 689 points. The Sensex closed at 48,782 points.

Similarly, the Nifty closed at 21,367 points, up 210 points from January 7 close. The Nifty, which had gained over 14,200 points on the back of strong global signals, continued to move higher.

IT, auto and pharma stocks were the main contributors to the day’s market surge. Nifty IT and auto indices rose more than 30 per cent. Shares of IT companies Wipro, HCL Tech and automobile maker Maruti Suzuki rose more than 5 per cent.

Many stocks set 52-week highs, setting a new record. Most of the Nifty stocks were gainers. 41 stocks gained while nine lost.