Nifty gained 83.90 points, or 0.42 percent, to settle at a new high of 19,833.15 points. It increased 102.45 points to 19,851.70 points during trade. Every day, the market sets new records. first time, the Sensex closed above the 67000 barrier.
Sensex ended above 67000
Every day, the Indian stock market sets new records. The 30-share Sensex increased by 302.30 points, or 0.45%, to conclude at a new record high of 67,097.44 points. The Sensex has now closed above 67,000 for the first time. It increased by 376.24 points during trade to hit its greatest peak of 67,171.38 points. The 30-share Sensex on the BSE has increased by 1,703.54 points and reached a record high in the previous five days.
The Nifty index of the National Stock Exchange finished at an all-time high of 19,833.15 points, up 84 points or 0.42 percent. It increased 102.45 points to 19,851.70 points during trade.
Which stock’s situation: Major gainers on the Sensex were NTPC, Bajaj Finance, IndusInd Bank, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Motors, ITC, Power Grid, and Larsen & Toubro. Following IndusInd Bank’s financial results, the bank’s shares increased by 2%. The bank said on Tuesday that greater income and lesser provisions for bad loans were the key reasons why its consolidated net profit increased 30% to Rs 2,124.50 crore in the April-June quarter of the current financial year. Conversely, among the losers were Tata Consultancy Services, Bharti Airtel, Maruti, Hindustan Unilever, Nestle, and ICICI Bank.
Data from the stock market show that international institutional investors are still buying. On Tuesday, he purchased shares worth Rs. 2,115.84 crore.
Market cap situation On Wednesday, the market value (market cap) of firms trading on the BSE surpassed all previous highs. The domestic equities market reached historic highs, pushing market capitalisation to a new high. With this increase, the market value of firms with BSE listings increased to a record Rs 3,04,53,859.15.
What Experts Analysts Say:
Vinod Nair, Geojit Financial Services, said that “domestic investors remain bullish about the Indian economy even after the market has achieved higher levels. The market is booming in all areas. Better macroeconomic statistics at the domestic level and ongoing capital influx from foreign institutional investors (FIIs) are the causes of this.Although there was initially significant profit-booking, he said, “Other large stocks, aside from automobiles and IT, later on. By buying, I rose in the market. Additionally, the home market is gaining support quickly in other international markets in anticipation of a worldwide slowdown in inflation.
Demonstrate how India’s economic growth is expected to remain at 6.4 percent for the current fiscal year (2023–24) and 6.7 percent for the coming financial year, according to the Asian Development Bank (ADB). According to ADB, a robust local demand would help the industry recover.
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