Business

India’s Equity Benchmarks Reach All-Time Highs Amid Positive Market Sentiment

Indian equity benchmarks soared to record levels on Tuesday, buoyed by encouraging trends from both Asian and US markets.

As of 9:48 a.m., the BSE Sensex climbed 75 points, or 0.09%, reaching 85,004, while the Nifty index gained 25 points, also up 0.09%, settling at 25,964. This marked the first instance of the Sensex trading above the 85,000 threshold.

Both indices achieved new all-time highs, with the Sensex hitting 85,008 and the Nifty reaching 25,967.

The broader market reflected a positive trend as well, with the Nifty midcap 100 index rising 147 points, or 0.24%, to 60,860, and the Nifty smallcap 100 index up 37 points, or 0.19%, at 19,586.

Also Read: Adani Total Gas Shares Surge 6% After Securing $375 Million From Global Lenders

Among the Sensex constituents, Tata Steel, JSW Steel, Nestle, Tata Motors, Power Grid, HDFC Bank, Sun Pharma, Bharti Airtel, Asian Paints, and NTPC led the gains. Conversely, Bajaj Finance, Infosys, Hindustan Unilever, UltraTech Cement, IndusInd Bank, Axis Bank, Wipro, and Bajaj Finserv faced losses.

Hardik Matalia, Derivative Analyst at Choice Broking, noted, “After a positive opening, Nifty can find support at 25,850, followed by 25,800 and 25,750. On the upside, 26,000 serves as immediate resistance, followed by 26,050 and 26,100.”

Sectoral indices showed a diverse performance, with notable gains in the auto, pharma, metal, media, energy, infrastructure, public sector enterprises, healthcare, and oil & gas sectors. In contrast, the IT, PSU bank, financial services, FMCG, and realty sectors lagged behind.

Asian markets also demonstrated robust performance, with Tokyo, Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta all trading in positive territory. The U.S. markets closed higher on Monday, further influencing global market sentiment.

Market analysts highlighted two critical trends. Concerns over escalating geopolitical tensions in the Middle East, particularly Israeli strikes on Lebanon resulting in significant casualties, have sparked worries in the market. This has contributed to a rise in crude oil prices, along with increased volatility in gold and the market volatility index.

Richa Kaushik

Recent Posts

Renowned Folk Singer Sharda Sinha Passes Away At 72; PM Modi Expresses Condolences

PM Modi expressed sorrow over Sinha’s death. "The passing of Sharda Sinha ji is deeply…

6 hours ago

US Election: India Confident Of Strong US Relations And Quad Continuity, Says Jaishankar

Jaishankar noted that the US-India relationship has flourished under both Democratic and Republican leadership, including…

7 hours ago

Sanskriti Diwas Marks 98th Birth Anniversary Of Kashiraj Dr Vibhuti Narayan Singh

Program coordinator Chakravarti Vijay Navad announced that 11 prominent individuals received the Kashiraj Dr. Vibhuti…

7 hours ago

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

9 hours ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

9 hours ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

10 hours ago