Record Highs: Sensex Surpasses 71,000; Nifty Soars Above 21,300 on Bullish Market Trends
The Indian stock market is experiencing a robust bull run as both Sensex and Nifty 50 reach unprecedented heights. Sensex peaks at 71,000, while Nifty crosses the 21,300 mark, signaling optimism in the market.
The surge is attributed to gains in IT and metal stocks, with the Nifty IT index jumping an impressive 4%. Notable contributors to this surge include TCS, Infosys, and HCL Tech
Optimistic global market conditions, following the Federal Reserve's indication of a rate cut, have resonated positively in Indian markets.
The Nifty IT index registers a significant leap of 4.3%, with key players such as HCL Tech, Infosys, TCS, and Tech Mahindra each experiencing a surge of more than 4%. Additionally, green energy stocks are identified as potential beneficiaries of the evolving market dynamics.
Corporates like Panacea Biotec and Infosys witness notable surges. Panacea Biotec records a 3.87% increase after launching a groundbreaking pentavalent vaccine, while Infosys, anticipating results for October-December, sees a 4.10% surge.
The markets are expected to maintain their upward trajectory, supported by favorable domestic factors, including an upgraded GDP forecast for India and lower global oil prices.