BENGALURU, Sept 24 (Reuters) - India's benchmark Sensex
crossed the 60,000 level for the first time on Friday, driven by
tech and private bank stocks, as analysts pointed to easing
fears over economic damage from a possible third COVID-19 wave.
The blue-chip NSE Nifty 50 index rose 0.59% to
17,928.95 by 0502 GMT, after hitting a record high earlier in
the session, while the benchmark S&P BSE Sensex was up
0.67% at 60,285.25.
Indian shares were headed for their fifth straight weekly
gain, as analysts said a quick-moving vaccination campaign had
diminished fears of a further hit to the economy due to the
Concerns about the fallout from debt-ridden property
developer China Evergrande were also somewhat
mitigated, while a U.S. Federal Reserve meeting did not throw up
any surprises, said Narendra Solanki, head of equity research at
Anand Rathi Investment Services.
In Mumbai trading, tech stocks jumped as much as
2.7% to a record high, with HCL Technologies rising
over 3% to be among the biggest gainers on the Nifty 50. Upbeat
outlooks from U.S. peers Accenture and Salesforce
helped bolster gains on Wall Street overnight.
Private banks were 0.4% higher, as HDFC Bank
rose 1%, with the sub-index heading for its second
straight weekly gain.
Real estate stocks jumped 1.6% to hit their
highest level in nearly 11 years, with the sector on course to
surge over 20% for the week.
Metal stocks fell 1.3% to snap three straight
sessions of gains, while consumer goods receded
0.4% but were on track to gain more than 1% for the week.
(Reporting by Soumyajit Saha in Bengaluru; Editing by