Business

Indian Equity Benchmarks Hit Record Highs Amid Positive Global Cues

On Thursday, Indian equity benchmarks opened at new record highs buoyed by positive cues from global markets.

The Sensex and Nifty hit all-time highs of 80,374 and 24,400 respectively in early trading.

By 9:50 AM, the Sensex had climbed 370 points, or 0.46%, to 80,361, while the Nifty rose 101 points, or 0.42%, to 24,392.

Among the sectoral indices, Auto, IT, Metal, Realty, Energy, and Infra were the major gainers, while Pharma and Healthcare lagged.

Key gainers included Tata Motors, ICICI Bank, M&M, Infosys, HCL Tech, and TCS.

In contrast, HDFC Bank, IndusInd Bank, Bharti Airtel, ITC, and Power Grid emerged as the top losers.

On the international front, markets in Seoul, Tokyo, Jakarta, and Bangkok were trading positively, while Shanghai and Hong Kong experienced declines.

The US markets closed with mixed results on Wednesday, reflecting varied investor sentiment.

Expert Insight On Indian Equity Benchmarks:

Sameet Chavan, Head of Research, Technical and Derivative at Angel One, commented on the market dynamics.

He stated, “The Indian equity market showed a positive start, drawing strength from robust global sentiments and a favourable undertone. The benchmark index opened at record highs but experienced some correction due to a lack of sustained buying.”

“However, the bulls made a modest recovery, and the tug-of-war continued throughout the session. Amidst the volatile session, the Nifty50 index concluded the day on a subdued note above the 24,100 zone,” he added.

The new highs indicate strong market sentiment driven by global factors.

Investors will be keenly watching upcoming economic data and corporate earnings to gauge the sustainability of this rally.

With mixed performance across sectors, market participants should remain cautious and selective in their investments.

The positive start and subsequent fluctuations highlight the market’s resilience and the ongoing tug-of-war between bulls and bears.

As global markets continue to influence domestic sentiment, traders and investors should stay informed and agile to navigate the evolving landscape.

Also Read: With Robust Growth In Services Sector Hiring At 2-Years High: HSBC

Mankrit Kaur

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