look news india
Stock Market All Time High: The upward trend of last week in the stock market is intact. Due to positive factors at global and domestic level, Sensex and Nifty again reached all-time highs today. Due to the rise in smallcap and midcap stocks also, the index reached its all-time high.
After opening with a gain of 94.39 points today, the Sensex rose 293.4 points to a new record high of 83184.34. Nifty also managed to register an all-time high of 24445.70 while moving towards the level of 25500. At 11.00 am, the Sensex is trading up by about 100 points and the Nifty is up by 32.70 points.
Investors' capital increased by Rs 10 lakh crore
With the Sensex and Nifty reaching all-time highs, the BSE market cap has reached a record high of Rs 471.01 lakh crore. With this, investors' capital has increased by Rs 10.25 lakh crore in the last four trading sessions. Last Wednesday, the market cap was Rs 460.76 lakh crore. At the time of writing the news, 299 stocks on the BSE reached a one-year high, while 363 stocks hit an upper circuit. On the other hand, 24 stocks hit a 52-week low and 180 stocks hit a lower circuit.
Boom in these sectors including smallcap, midcap
Smallcap and midcap stocks, which were sluggish for the last two weeks, have returned to the uptrend. Today, BSE Midcap reached a record high of 49506.01 and Smallcap 57502.74. Apart from this, the index reached an all-time high due to attractive buying in healthcare, financial services, consumer durables stocks. The listing of Bajaj Housing Finance's IPO at a 114.29 percent premium led to buying in financial stocks amid the boom in the market. The rise in the Sensex pack is due to the increase in volume in banking stocks including HDFC Bank, Axis Bank, ICICI Bank.
Reasons for the rise in the stock market
Market experts say that the domestic market has seen a surge due to the rise in the stock market globally. This Wednesday, the Fed Reserve will take a decision on interest rates. In which most economists and investors are fully optimistic about a 25 to 50 bps cut in interest rates. Due to this, the stock and bullion market have risen. On the other hand, economic growth is also increasing at the local level. Due to strong IIP, corporate results coming next month are also likely to be encouraging.