Mumbai: The BSE Sensex and NSE Nifty scaled fresh record high levels in early trade on September 23, 2024. The 30-share Sensex gained 318.58 points to hit a fresh peak of 84,862.89, while the Nifty surged 120.75 points to reach a new record high of 25,911.70. The rally in domestic equity indices was attributed to strong foreign fund inflows and rally in Asian markets.
30 Sensex pack gainers: Adani Ports, Tata Motors, Tata Steel, NTPC, State Bank of India, Kotak Mahindra Bank, Mahindra & Mahindra, and Bharti Airtel. Laggards included, JSW Steel, HCL Technologies, ITC, and ICICI Bank.
According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 14,064.05 crore.
Commenting on the strong sentiments in the stock market, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, US Federal Reserve’s announcement to cut interest rates and Fed chief’s optimistic commentary is the reason behind the Bull run.
“The charging bull got a shot of steroids from the Fed when it cut interest rates by 50 bps on September 18th. More than the rate cut, it was the Fed chief’s optimistic commentary that lifted the markets sharply,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
World Markets
In Asian markets, Hong Kong, Shanghai and Seoul were trading on positive note. The US markets ended on a mixed note on September 20, 2024.
The 30-share Sensex gained 1,359.51 points to settle at an all-time high of 84,544.31 on September 23, 2024. Intraday, it rallied 1,509.66 points to hit a peak of 84,694.46. The NSE Nifty also jumped 375.15 points to end the day at a record 25,790.95 level. During the day, the broader index reached an all-time intra-day peak of 25,849.25.
Stock Market today: The BSE Sensex scaled a fresh peak of 84,862.89, while the NSE Nifty touched a record high level of 25,911.70. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
