On Friday, both the Sensex and Nifty, which are key equity benchmark indices, achieved new all-time highs driven by gains in banking, financial, and capital goods stocks, supported by a positive trend in the global market. Traders noted that the strengthening rupee and foreign capital inflows further boosted market sentiment.
The 30-share BSE index surged by 466.95 points or 0.74 percent, reaching a new record closing high of 63,384.58. Throughout the day, it rallied 602.73 points or 0.95 percent to 63,520.36. Similarly, the NSE Nifty climbed 137.90 points or 0.74 percent, ending at its highest level ever of 18,826.
The markets rebounded thanks to buying in major index companies like Reliance Industries and HDFC twins. Among the Sensex pack, Bajaj Finserv emerged as the top gainer, rising 2.21 percent, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries, and Mahindra & Mahindra. Conversely, Wipro, Tata Consultancy Services, Power Grid, and Tech Mahindra experienced losses.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong closed with gains, while equity markets in Europe were trading positively. The US markets also ended the previous day with significant gains.
Vinod Nair, Head of Research at Geojit Financial Services, explained that the domestic market rebounded due to strong buying in banking, pharma, and consumer stocks, along with positive cues from global markets. The optimism in the US market was fueled by better-than-expected retail sales, indicating the strength of the economy. Nair also mentioned that elevated jobless claims and a decrease in import prices raised hopes for a prolonged pause in interest rate hikes by the Federal Reserve, contradicting their previous announcement of potential future rate hikes.
Meanwhile, the global oil benchmark Brent crude declined by 0.62 percent to reach USD 75.20 per barrel. Foreign Institutional Investors (FIIs) purchased equities worth ₹3,085.51 crore on Thursday, according to exchange data.
On Thursday, the BSE benchmark dropped 310.88 points or 0.49 percent to settle at 62,917.63, while the Nifty declined by 67.80 points or 0.36 percent to end at 18,688.10.
