The stock markets opened higher on Thursday, fueled by optimism about a potential US Federal Reserve rate cut in September and easing geopolitical tensions. Analysts predict new all-time highs for Nifty and Sensex next week.
The Sensex rebounded by 1,293 points, and the Nifty surged nearly 2% to a record high, ending a five-day losing streak. Heavy value buying at lower levels and a rally in blue-chip stocks, particularly Reliance Industries, drove the recovery.
The Sensex surged by 443 points, closing at a new all-time high of 79,476.19, while the Nifty climbed 131.35 points to 24,141.95, both reaching fresh lifetime highs on Monday. Key contributors to the rally included Tech Mahindra, UltraTech Cement, Bajaj Finance, and Infosys.
In early trading on Tuesday, benchmark equity indices saw a decline due to profit-taking after a record-breaking rally. Bluechip stocks such as Reliance Industries and HDFC Bank faced selling pressure.
The sharp declines in both indices signal investor concerns and potential volatility in the coming days. The downturn affected a broad range of sectors, contributing to the overall market slump.
The Sensex and Nifty rebounded dramatically on Monday, spurred by buying in HDFC Bank, ICICI Bank, and Tata Consultancy Services. The BSE Sensex closed higher by 111.66 points, or 0.15%, at 72,776.13 after hitting a low of 71,866.01 during the day.
Indian stocks started the week on a positive note, riding on the coattails of a strong performance in US markets and improved investor sentiment. With the Sensex rising by 411 points and the Nifty climbing 53.70 points in early trade, sectors like the Nifty Bank emerged as top movers.
In the previous trading session on Monday, the BSE Sensex had recorded a notable increase of 363 points, closing at 74,014. Similarly, the NSE Nifty50 also ended positively, reaching 22,462, up by 135 points.
Equity markets opened with a slow start on Tuesday amidst subdued global trends and foreign fund outflows. Initially, the BSE Sensex fell by 130 points, while the Nifty dropped 36.4 points. However, both indices later recovered, with marginal gains observed.
Gains were capped due to investors' reluctance to further invest in expensive market conditions and caution over the upcoming macro-economic inflation and industrial production data points
The BSE benchmark Sensex made a promising start by bouncing almost 208 points during the early morning trade session on Tuesday on widespread gains following fresh buying amid a firm trend in Asian markets.
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