Private financials, IT, FMCG, Reliance lead Nifty 50 to record high

Bajaj Finance and Bajaj Finserv have rallied 58% and 43%, respectively, while Asian Paints and TCS were surged more than 20% since January 29, 2018. Shares of private lenders which include non-banking financial companies (NBFC), information technology (IT), fast moving consumer goods (FMCG) and Reliance Industries (RIL) have helped the Nifty 50 index to hit a record high of 11,172.20 on Thursday in early morning trade. The benchmark index surpassed its previous high of 11,171.55 recorded on January 29, 2018. Bajaj twins – Bajaj Finance and Bajaj Finserv – from NBFCs, Kotak Mahindra Bank, IndusInd Bank, HDFC Bank and YES Bank from private lenders, Tata Consultancy Services (TCS) and Infosys from IT pack, Asian Paints, Hindustan Unilever and ITC from FMCG and Reliance Industries have outperformed the market by rising more than 5% during the period.

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