The BSE Sensex plunged sharply, trading below the psychological 81,000 level as investor sentiment remained weak. The broader NSE Nifty 50 also mirrored the decline, slipping over 1% during intraday trade.
In early trade on Friday, the BSE Sensex surged 327 points to 82,300.44, while the NSE Nifty gained 84 points to reach 25,212.05. Major sectors, including banking and IT, contributed to the market rally, driven by positive global and domestic cues.
The Reserve Bank of India (RBI) has kept the benchmark repo rate unchanged at 6.5% for the 10th consecutive time, maintaining its focus on inflation control while balancing economic growth.
Market experts attributed the rally to positive global cues, strong corporate earnings, and consistent foreign inflows. The rally was led by gains in banking, IT, and energy stocks, reflecting robust investor sentiment.
Key sectors, including IT, banking, and auto, faced heavy losses, contributing to the overall decline in market indices. Major stocks witnessed selling pressure, with investors remaining cautious amidst global market uncertainties.
While the Sensex faced a slight downward pressure, the Nifty stayed in the green, albeit with a marginal increase.
Positive cues from global markets and sustained buying in select heavyweight stocks contributed to the early gains. Key sectors including IT, financials, and energy showed strength, bolstering overall market sentiment.
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 stock markets witnessed a strong early trade recovery, with Sensex and Nifty showing substantial gains. The Sensex rose by 1,046.13 points to 79,639.20, while the Nifty surged by 313.9 points to 24,306.45, indicating positive investor sentiment and market momentum.
The Sensex's fourth consecutive decline, driven by profit booking in response to tax hikes announced in the budget, highlighted the cautious sentiment among investors.
The benchmark BSE Sensex jumped 622 points, or 0.78%, to reach an unprecedented 80,519.34. The NSE Nifty rose by 186.20 points, or 0.77%, closing at a historic 24,502.15.
Benchmark indices Sensex and Nifty closed slightly lower on Thursday due to profit-taking in heavyweight stocks ahead of the announcement of key financial results for the June quarter. The indices saw a rangebound session, with both experiencing early highs before retreating.
The BSE Sensex breached the 80,000-mark for the first time on Wednesday, reaching an all-time high of 80,074 before closing at 79,987, up by 545 points. The NSE Nifty50 also hit a new peak of 24,307, settling 163 points higher at 24,287.
Despite the overall positive trend, 11 of the 30 Sensex shares traded down, with notable losers including UltraTech Cements, Adani Ports, IndusInd Bank, Maruti, and Axis Bank. The market remains robust, but elevated valuations and a weak broader market trend suggest caution.
Benchmark indices experienced a downturn in early trade on Thursday due to weak trends in Asian markets and foreign fund outflows. The BSE Sensex declined by 149.41 points after hitting a new all-time high, while the Nifty dipped by 47.45 points.
The Sensex reached a new all-time high in early trade on Wednesday, climbing 134.64 points to 78,188.16, while the Nifty rose 28.2 points to 23,749.50. However, both indices later faced volatility and traded flat amid profit-taking.
The Indian stock market showed signs of recovery on Tuesday as the Sensex surged by 237.05 points to reach 77,578.13, while the Nifty also rose by 65.8 points, reaching 23,603.65 during early trade.
Analysts expect the market to consolidate at higher levels, with budget-related sectors drawing attention. Global markets showed mixed performance, and oil prices continued to decline.
Japan’s Nikkei declined by 0.70%, Korea’s Kospi gained 0.13%, and Australia’s ASX200 saw a marginal decrease of 0.03%. In Europe, the UK’s FTSE rose by 0.17%, driven by expected inflation figures, while Germany’s DAX fell by 0.35% and the UK’s FTSE increased by 0.60%.
Small- and mid-cap stocks also hit all-time highs, rising 0.5% and 0.35%, respectively. Wall Street's strong performance, with the S&P 500 and Nasdaq Composite closing at record levels, further boosted market sentiment.
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