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.
Market closing update: Rallying for the sixth straight session, the BSE benchmark Sensex climbed 141.34 points or 0.18 per cent to settle at a new closing peak of 77,478.93. The Nifty rose 51 points or 0.22 per cent to settle at its fresh closing high of 23,567.
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.
Analysts attribute the rally to robust corporate earnings, favourable global market trends, and investor optimism about the domestic economic outlook.
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The Indian stock markets opened at fresh record highs on Thursday following the US Federal Reserve's decision to keep interest rates unchanged. The Fed also indicated only one rate cut by the end of the year despite high inflation.
Indian stock markets opened on a positive note on Wednesday, with the benchmark BSE Sensex and Nifty showing significant gains in early trading.
The Nifty 50 index soared to an unprecedented high, driven by robust gains across various sectors. Leading the charge were stocks in the IT, financial, and consumer goods sectors, which showed significant upward momentum.
The Sensex has reached an all-time high just days after experiencing a significant downturn on election counting day on June 4. The surge follows a period of uncertainty and fluctuation, demonstrating the dynamic nature of the stock market in response to political events.
The NSE Nifty index climbed 99.4 points to 22,920.80, continuing its upward trajectory and indicating a robust trading session.
Stock market: Leading companies saw gains, with NTPC, SBI, ONGC, Coal India, and Power Grid among the top performers, while Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India experienced losses.
Among Sensex companies, IndusInd Bank jumped over 7 per cent. Tata Steel, Mahindra & Mahindra, Bajaj Finance, Kotak Mahindra Bank, Hindustan Unilever, HDFC Bank, Axis Bank and JSW Steel also emerged as big gainers.
Benchmark indices Sensex and Nifty showed a strong rebound in early trade on Wednesday following significant losses in the previous session. The BSE Sensex surged 948.83 points to 73,027.88, and the NSE Nifty climbed 247.1 points to 22,131.60, driven by value-buying at lower levels.
Benchmark indices Sensex and Nifty plummeted in early trade on Tuesday as initial Lok Sabha poll counting showed a mixed trend. The BSE Sensex dropped 1,715.78 points to 74,753, and the NSE Nifty tumbled 539.1 points to 22,724.80.
The Indian stock market witnessed a historic surge as the Sensex and Nifty soared to record highs just one day before the Lok Sabha election results. The Sensex surged by an astounding 2,507 points, closing at 76,469, while the Nifty climbed 733 points to settle at 23,264.
The massive jump of Sensex and Nifty comes amid the predictions of Prime Minister Narendra Modi's return with a huge victory. The early trade on Monday morning witnessed a positive upward trend ahead of the final results of the Lok Sabha elections.
From the Sensex basket, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, UltraTech Cement, NTPC, IndusInd Bank, Tata Motors and Titan were the major gainers.
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.
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