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Reliance, financials push Sensex, Nifty to record highs ahead of election results

VCCircle

VCCircle · 1y ago

Reliance, financials push Sensex, Nifty to record highs ahead of election results

Indian shares surged to record highs on Monday, driven by financials, Reliance Industries, and energy stocks, following exit polls projecting a third term for Prime Minister Narendra Modi's government in the recently concluded general elections. The Nifty 50 rose 3.25% to 23,263.90 points, and the Sensex added 3.39% to 76,468.78, with both indexes marking their best session in 40 months. Financials and state-owned lenders experienced the highest gains, while energy and oil & gas sectors also performed well. The official election results are due on June 4.

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Sensex, Nifty end at record closing high, aided by PSU stocks

VCCircle

VCCircle · 1y ago

Sensex, Nifty end at record closing high, aided by PSU stocks

Sensex and Nifty, India's leading stock market indexes, reached record closing highs on Monday, supported by gains in state-owned companies and a strong start to the earnings season. The Nifty rose 0.35% to 24,586.7, while the Sensex added 0.18% to end at 80,664.86. This marked the second consecutive session of record closing highs for both indexes. The positive sentiment among investors is driven by positive IT company results and expectations for the national budget, which is due on July 23.

Sensex, Nifty recover from election slump to end at record levels

VCCircle

VCCircle · 1y ago

Sensex, Nifty recover from election slump to end at record levels

Indian stock markets, the Sensex and Nifty, rebounded from election-related losses to close at record highs. The Nifty rose 2.05% to 23,290.15 points, while the Sensex increased by 2.16% to 76,693.36. Domestic inflows, political stability and expectations of faster economic growth contributed to the positive sentiment. The recovery rally was also supported by the Reserve Bank of India raising its GDP growth forecast for the fiscal year to 7.2% and leaving the key borrowing rate unchanged. All major sub-indexes ended higher, led by IT stocks, and Wipro gained 5.1% after securing a $500 million order.

Reliance boosts Sensex and Nifty to record highs

VCCircle

VCCircle · 11m ago

Reliance boosts Sensex and Nifty to record highs

In India, the equity benchmarks Sensex and Nifty reached record highs, driven by Reliance Industries' plans to increase AI adoption and issue bonus shares. The Nifty 50 has experienced its longest winning streak since October 2007, rising for 11 consecutive sessions. Indian markets have been performing well globally due to strong domestic inflows, a robust economy, and positive earnings outlook. While sectors like financial services and IT saw gains, small- and mid-cap stocks underperformed. Investors are advised to be cautious with valuations in these segments.

Sensex, Nifty off record highs on Friday but post best month of 2024

VCCircle

VCCircle · 1y ago

Sensex, Nifty off record highs on Friday but post best month of 2024

India's benchmark equity indexes, the Nifty 50 and Sensex, ended June with their best monthly gains of the year. The Nifty 50 rose 6.6% and the Sensex rose 6.9%, boosted by Prime Minister Narendra Modi's reelection and an influx of foreign investment. Although they fell slightly from record highs on Friday, funds flowed into large-cap stocks offering comfort in valuations, with foreign portfolio investors buying INR 188bn ($2.3bn) of shares in June.

Sensex, Nifty rise for sixth straight week, IT stocks re-join the party after TCS results

VCCircle

VCCircle · 1y ago

Sensex, Nifty rise for sixth straight week, IT stocks re-join the party after TCS results

Indian benchmarks Sensex and Nifty closed at record highs for the sixth consecutive week. This was driven by the strong performance of IT stocks, which joined the rally after Tata Consultancy Services reported positive results, indicating a revival in the sector. The Nifty rose by around 9% during this period, outperforming other emerging markets. The upcoming national budget on July 23 is expected to be a significant event for the market, with potential volatility and corrections afterwards. Retail inflation data for June is also due, which could impact the central bank's decision on interest rates.

Small Caps, Big Gains: 60 stocks deliver double-digit returns as markets hit a fresh high

Money Control

Money Control · 1y ago

Small Caps, Big Gains: 60 stocks deliver double-digit returns as markets hit a fresh high

Despite mixed signals in the global market, Indian benchmark indices recorded gains this week. The Sensex and Nifty50 both reached record highs, with the IT and private banking sectors showing notable recovery. The Nifty Energy, Nifty Oil & Gas, and Nifty Information Technology indices performed well, while the Nifty Realty, Nifty Media, and Nifty Metal indices experienced declines. Foreign institutional investors (FIIs) continued to acquire equities, further supporting the market. Attention will now turn to the release of US and Indian manufacturing data, the Fed Chair's speech, and the upcoming union budget proposals.

Indices hit record highs; Sensex above 84,000, Nifty surpasses 25,600

Money Control

Money Control · 10m ago

Indices hit record highs; Sensex above 84,000, Nifty surpasses 25,600

The Indian stock market witnessed a rebound today, with the Sensex and Nifty reaching record highs. The rally was driven by gains in the banking sector, particularly ICICI Bank, HDFC Bank, and Kotak Mahindra. Metal stocks also saw renewed buying interest following target price upgrades by Macquarie and Morgan Stanley. However, IT stocks continued to decline. Investors are now looking ahead to the Reserve Bank of India's upcoming monetary policy for further market direction. The broader market also bounced back, with the BSE Midcap and Smallcap indices gaining 0.5 percent.

Zomato Hits Fresh All-Time High At INR 298.05 Amid Broader Market Rally

Inc42 · 10m ago

Zomato Hits Fresh All-Time High At INR 298.05 Amid Broader Market Rally

Shares of foodtech major Zomato rose over 2% in early trading today, reaching a new all-time high of INR 298.05 on the BSE. This surge came alongside a broader market rally, with Sensex and Nifty 50 also reaching record intraday highs. Zomato's shares have gained nearly 140% year-to-date due to the company's improved profitability.

Sensex, Nifty retreat from record peaks to close flat; banking, FMCG stocks weigh on indices

Money Control

Money Control · 10m ago

Sensex, Nifty retreat from record peaks to close flat; banking, FMCG stocks weigh on indices

Indian stock market indices, the Sensex and Nifty, closed flat after reaching record highs earlier in the day. The Sensex hit an all-time high of 85,163, while the Nifty surpassed the 26,000 milestone for the first time, reaching 26,011. The market's performance reflects investor confidence in India's growth potential, supported by resilient macroeconomic indicators and increased foreign institutional investor inflows. Metal, IT, and auto stocks drove the rally, while FMCG and banking stocks struggled. The geopolitical concerns in the Middle East did not hinder the market's upward trajectory.

Major trading apps Zerodha, Groww face glitch after market hits all-time high

Internet

Internet · 1y ago

Major trading apps Zerodha, Groww face glitch after market hits all-time high

Major trading apps like Zerodha and Groww experienced glitches after the stock market hit record highs following exit polls indicating a likely third term for the BJP-led NDA. The Sensex surged over 2,000 points to 76,738.89, and the Nifty reached 23,338.70. The high trading volume also caused the CDSL website to go down.

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