News

Published: April 5, 2024
Updated: April 5, 2024

Sensex Achieves Historic Milestone, Hits All-Time High

Market Rally Amidst Optimism:

Equity benchmark indices, the Sensex and Nifty, surged to unprecedented levels on Thursday, buoyed by robust buying in IT, consumer durables, and financial sectors. Investors displayed renewed optimism in anticipation of strong corporate performance.

Record-Breaking Performance:

The Sensex soared by 351 points, reaching an all-time high of 74,228, while the Nifty also scaled a fresh peak of 22,515, registering a gain of 80 points. This remarkable achievement follows consecutive sessions of lower closures, with both indices surpassing their previous highs.

Market Sentiment and Expectations:

Investors showed particular interest in banking stocks, speculating on the outcome of the Reserve Bank of India's monetary policy committee meeting. Analysts predict a status quo in the interest rate decision, attributing it to prevailing inflation concerns.

Insights from Market Experts:

Analysts note the positive market breadth within a narrow trading range. Attention remains focused on the upcoming RBI announcement, with expectations leaning towards no change in the repo rate. Select sectors, including banking and exports, exhibit resilience in anticipation of favourable Q4 results and robust business conditions.

Sectoral Performance:

Among the Sensex constituents, major gainers included HDFC Bank, Titan, Tech Mahindra, and Asian Paints, contributing to the overall market surge. However, certain stocks such as SBI, Bharti Airtel, and Reliance faced losses. Sectoral indices witnessed mixed performances, with IT, consumer durables, and financial services leading the gains, while oil & gas and energy sectors experienced declines.

The Sensex's historic milestone reflects the market's optimism and confidence in the economy's resilience. As investors await the RBI's policy decision, the market remains dynamic, driven by sectoral performances and global economic factors. The ongoing rally underscores the potential for further growth and stability in the Indian stock market. Stay tuned for updates on market developments and their impact on investment strategies.