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.
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.
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.
The fund house, with assets exceeding Rs 93,000 crore, affirmed its commitment to regulatory compliance and promised to provide all necessary support to Sebi. It aims to maintain investor trust while continuing to deliver superior risk-adjusted returns.
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.
The I.N.D.I.A bloc has described the stock market crash after Lok Sabha election results as "biggest stock market scam" with retail investors losing Rs 30 lakh crore. The stock market had soared after the Exit polls predicted landslide victory for BJP-led NDA but the result turned out differently.
Analysts attribute the rally to robust corporate earnings, favourable global market trends, and investor optimism about the domestic economic outlook.
Eid-al-Adha 2024: Bakra Eid is a holy occasion also called the 'festival of sacrifice' and is celebrated on the 10th day of Dhu al-Hijjah, the 12th month of the Islamic or lunar calendar. It marks the end of the annual Hajj pilgrimage. The festival is an occasion of joy and peace.
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.
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 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.
On June 4, the stock market witnessed a steep selloff, resulting in a massive loss of approximately Rs 20 lakh crore within the first 20 minutes of trading.
The NSE Nifty index climbed 99.4 points to 22,920.80, continuing its upward trajectory and indicating a robust trading session.
On June 4, the stock market witnessed a steep selloff, resulting in a massive loss of approximately Rs 20 lakh crore within the first 20 minutes of trading.
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