Nifty, Sensex touch new peaks in closing session

Indian stock markets surged to record highs on Thursday driven by favorable inflation data. The BSE Sensex and NSE Nifty soared to new peaks, reaching 77,145 and 23,481 respectively. Notably, the Nifty 50 closed 0.33 per cent higher at 23,398.95, while the Sensex ended 0.27 per cent up at 76,810.90.


ANI | Updated: 13-06-2024 18:58 IST | Created: 13-06-2024 18:58 IST
Nifty, Sensex touch new peaks in closing session
Representative image (Photo- pexels.com). Image Credit: ANI
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Domestic stock markets surged to record highs on Thursday driven by favourable inflation data. The BSE Sensex and NSE Nifty soared to new peaks, reaching 77,145 and 23,481 respectively. Notably, the Nifty 50 closed 0.33 per cent higher at 23,398.95, while the Sensex ended 0.27 per cent up at 76,810.90. The top performers of the day in the Nifty 50 included Shriram Finance, HDFC Life Insurance, Divi's Lab, M&M, and Titan, while Hindustan Unilever, ICICI Bank, Axis Bank, Eicher Motors, and Britannia faced losses.

"Among Sectors, the Reality Index was the top gainer, rallied over 2 percent whereas the Media index corrected 1 per cent. Technically, after a gap up opening one more time, the market witnessed selling pressure at higher levels. However, the short-term texture of the market is still in to the positive side" said Shrikant Chouhan, Head Equity Research, Kotak Securities. In the sectoral indices with the exception of banking, FMCG, and media sectors, all other indices showed positive movement. The realty, consumer durables, and IT sectors experienced significant gains, followed by auto, healthcare, and oil and gas sectors.

In the broader market, the BSE SmallCap surged by 0.93 per cent and the BSE MidCap climbed 0.78 per cent. In the global market, the Fed's decision to maintain interest rates and revise its rate cut expectations to possibly one by December impacted bond yields across the eurozone, with the German 10-year bund yield reaching 2.55 per cent.

In contrast, European equities faced downward pressure due to elevated government bond yields following the U.S. Federal Reserve's revised interest rate projections. The STOXX 600 dipped by 0.5 per cent, retreating from the previous session's 1 per cent gain. "MSCI's decision to exclude the European Union's debt from its government bond indexes further influenced market sentiment. Most sectors in Europe traded lower, with real estate and auto stocks experiencing notable declines" said Varun Aggarwal, MD, Profit Idea. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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