Mumbai: The Bulls continue to have a dream Run ahead of Lok Sabha Election results. Indian benchmark indices, Sensex hit all-time peak of 75,525.48 in early trade on Friday, while the broader Nifty went up 15.45 points to 22,983.10. Meanwhile, few minutes after the markets opened Nifty also scaled fresh peak of 23,000.
Notably, the fresh peaks came nearly a fortnight ahead of Lok Sabha Election 2204 Results. The Nifty shrugged off some of the uncertainty related to poll results and hit a new high. The rally is being attributed to a record dividend announced by Reserve bank of India (RBI) to the government and Prime Minister Narendra Modi exuding confidence about winning the elections.
The 30-share BSE Sensex climbed 164.24 points to hit its all-time high of 75,582.28 in early trade. The NSE Nifty went up by 36.4 points to breach the 23,000 mark for the first time ever. It hit its lifetime peak of 23,004.05.
Stocks that gained in early trade from the Sensex firms: Bajaj Finance, Larsen & Toubro, Tata Steel, State Bank of India, HDFC Bank and Bharti Airtel.
Stocks in Red in morning trade: Mahindra & Mahindra, Tata Consultancy Services, Maruti and JSW Steel were among the laggards.
In a positive sign, Foreign Institutional Investors (FIIs) pumped in pmney in the Indian stock markets after days of offloading equities. FIIs purchased equities worth Rs 4,670.95 crore on May 23, 2024.
“Yesterday, Nifty neared the 23,000 mark, driven by investor optimism about the current regime’s continuation in the upcoming general elections,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Investor wealth zooms Rs 4.28 lakh cr
The Sensex and Nifty surged over 1.6 per cent to close at lifetime high levels on May 22 , making investors richer by Rs 4.28 lakh crore. With nearly a fortnight left for the results of Lok Sabha polls, benchmark stock indices Sensex and Nifty zoomed more than 1.6 per cent to close at lifetime high levels on Thursday, making investors richer by Rs 4.28 lakh crore.
Stock Market today updates: Sensex hits all-time peak of 75,525.48 in early trade on Friday. The Nifty breached the 23,000 mark amid buoyant investors’ sentiment days ahead of the Lok Sabha Election Results and and fresh buying by the Foreign Institutional Investors. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
