Indian Markets Soar to Record Highs: Nifty and Sensex Lead the Rally

On Thursday, Indian markets opened at record highs fueled by global trends and signals of a potential rate cut by the US Federal Reserve. Nifty hit 25,030.95, while the BSE Sensex opened at 81,949.68, surging to 82,082. Experts highlighted positive sentiments and improved economic indicators as key drivers.

On Thursday, Indian markets achieved record highs, with the Nifty 50 starting at 25,030.95, a gain of 92.15 points or 0.37% from the previous close. The BSE Sensex also marked a milestone, opening at 81,949.68 points and surging to 82,082 with a gain of 208.34 points or 0.25%.

Market experts attributed this buoyant performance to favourable global market trends and the possibility of a rate cut by Federal Reserve Chair Jerome Powell in September. "The Fed chief signalling a possible rate cut in September is positive for global equity markets," stated V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In the Nifty 50 index, top gainers included Maruti, JSW Steel, Hindalco, Coal India, and Tata Motors, whereas Mahindra & Mahindra, BPCL, Infosys, Ultratech Cement, and Sunpharma were the top losers. The broader market indices on the NSE continued the rally, with all sectoral indices opening in the positive territory.

Over the past six months, the Nifty 50 has risen by over 15%, while the BSE Sensex has gained more than 14%. This upward trend has been driven by favorable national budget announcements and investor sentiment. However, experts caution that while the market may continue to rise if both FIIs and DIIs turn buyers, maintaining the rally could be challenging due to stretched valuations.

Global markets presented mixed results, with Asian markets tracking Wall Street's gains. The Dow Jones and S&P 500 increased by 0.24% and 1.58%, respectively, while the Nasdaq surged 2.64%. Following the Federal Reserve meeting, the US dollar and Treasury yields fell, whereas Brent crude prices rose by 0.8% to USD 81.51 per barrel.

(With inputs from agencies.)