The BSE Sensex hits a lifetime high of 85,836.12, while NSE Nifty reaches a record 26,216.05. Strong investor sentiment and global cues boost the market.
The Sensex surged to a record high, closing above 85,000, while the Nifty crossed the 26,000 mark, driven by gains in banking, IT, and auto sectors. Strong earnings and economic indicators fueled the rally.
Earlier on Friday, BSE Sensex soared 1,359.51 points, or 1.63 per cent, to an all-time high of 84,544.31. Similarly, Nifty also surged 375.15 points, or 1.48 per cent, to close at a record 25,790.95 on Friday.
Sensex and Nifty hit record highs after the US Fed rate cut, driving optimism in global markets. The BSE Sensex surged 236.57 points, reaching an all-time high of 83,184.80, while the NSE Nifty climbed to 25,415.80. Banking stocks led the rally, reflecting strong investor sentiment.
The market faced broad-based selling pressure across sectors, with financial, IT, and energy stocks among the top laggards. However, select FMCG and pharmaceutical stocks showed resilience, offering some support to the market.
For the first time at closing, Sensex crossed 83,000. It is for the second consecutive day that the Sensex has hit a record high. Meanwhile Nifty also touched an all-time high on Tuesday
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.
Both indices saw strong performances across multiple sectors, contributing to the day’s upward trend. Key sectors such as IT, banking, and FMCG led the gains, while energy stocks also saw notable improvement.
Global market volatility, along with domestic economic concerns, are believed to have driven the steep decline. Investors remained cautious amid fears of rising inflation, higher interest rates, and geopolitical tensions affecting market sentiment.
While the Sensex faced a slight downward pressure, the Nifty stayed in the green, albeit with a marginal increase.
In the early trade, the 30-share BSE Sensex climbed 164.27 points to 82,554.04. Meanwhile, the Nifty was also up by 58.35 points to 25,299 points.
The upward movement in the market was driven by positive investor sentiment, strong global cues, and buying interest in key sectors such as IT, banking, and energy. Analysts attributed the surge to favourable economic data and robust corporate earnings, which have bolstered market confidence.
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.
BSE's Sensex has gained for the fourth straight session on Friday, while Nifty rose for the seventh straight session. In Asian markets, only HongKong opened green while Seoul and Tokyo traded lower.
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.
After following global sentiments last week, the Indian stock market incidence gained in the opening session. Meanwhile, Asian markets showed mixed responses.
The early gains indicate continued momentum in the markets, with both major indices showing strong upward trends as trading progresses.
Tata Motors led the gains among Sensex stocks, while broader markets showed mixed performance. Positive sentiment was fueled by lower-than-expected US inflation data, which boosted global indices.
The development comes as Rahul Gandhi alleged that there is a "significant risk in the Indian stock market because the institutions that govern the stock market are compromised".
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