Benchmark Indices Sensex And Nifty Hit New Record Highs

On Thursday, the Sensex and Nifty achieved new record highs, driven by gains in IT sector stocks. The Sensex surged 569 points to 79,243, while the Nifty climbed 175 points to close at 24,044. This marked the first time the Sensex closed above the 79,000 mark. During the day, the Sensex reached a peak of 79,396, and the Nifty hit a high of 24,087. Meanwhile, the market cap of BSE-listed companies rose to Rs 438.66 lakh crore from Rs 437.02 lakh crore in the previous session.

Leading the gains on the Sensex were Ultratech Cement, NTPC, JSW Steel, Tata Motors, Infosys, TCS, Kotak Mahindra Bank, and Bharti Airtel, with increases of up to 5.07%. The India VIX index increased by 0.71% to 14.15, indicating a slight rise in market volatility.

Today, 300 stocks reached their 52-week highs, while 26 stocks hit their 52-week lows. Despite the record highs, market breadth was negative. Out of 4,008 stocks, 1,510 ended in the green, 2,388 declined, and 110 remained unchanged.

Vinod Nair, Head of Research at Geojit Financial Services, commented, “The benchmark indices showed bullish momentum, driven by an anticipated revival in the IT sector and consolidation in the cement industry. However, the broader market remained sideways due to valuation concerns and foreign institutional investor (FII) selling prompted by rising US bond yields. Meanwhile, the US market had a mixed performance, with investor sentiment cautious ahead of key US data releases for the week, including the PCE price index, which could influence future rate cuts.”

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