The Nifty reached an all-time high record and the Sensex broke through the 79,000 barrier, as purchasing in blue-chip companies caused benchmark indices to climb after they had fallen in early trade on Thursday.
After falling in early trade, the 30-share BSE Sensex rebounded 339.51 points to reach its new lifetime peak of 79,013.76, aided by the buying of blue-chip stocks like ICICI Bank and Reliance Industries. Additionally, the Nifty recovered, surging 97.6 points to reach 23,966.40, a new all-time high.
The biggest gainers among the 30 Sensex companies were Tata Steel, Axis Bank, ICICI Bank, JSW Steel, Reliance Industries, Bajaj Finance, and UltraTech Cement. The largest laggards were Maruti, Tech Mahindra, HCL Technologies, and Larsen & Toubro.
Despite the concerns over worth, the market is expected to stay bullish in the foreseeable future, and the Sensex may reach 80,000 levels due to the current momentum.
Fundamentally strong largecaps in industries like banking and telecom are driving the market’s rising trend, which is a positive development. The surge is strong enough to last, according to V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. RIL just jumped on the bull bandwagon yesterday.
US markets ended the day on a positive note on Wednesday. Exchange data reveals that foreign institutional investors (FIIs) offloaded stocks worth ₹3,535.43 crore.
On Wednesday, the benchmark BSE Sensex increased by 620.73 points, or 0.80%, to close at a record high of 78,674.25. The Nifty ended at a record closing top of 23,868.80, up 147.50 points, or 0.62 percent.
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