Sensex hits fresh lifetime high, closes in on 75,000 mark
The ₹300 lakh crore market cap milestone was achieved on July 5, 2023, when the Sensex was at 65,446. Since then, the index has rallied over 14%, but the broader market cap has surged 34%.
The ₹300 lakh crore market cap milestone was achieved on July 5, 2023, when the Sensex was at 65,446. Since then, the index has rallied over 14%, but the broader market cap has surged 34%.
All three major Wall Street stock indices dropped about 1% overnight, while 10-year treasury yields hit a four-month high after data signalling steady labour demand added to concerns of a potential delay in the Fed's rate cut. In early trading, key contributors to the Sensex decline included Reliance Industries, Bharti Airtel, HDFC Bank, and ICICI Bank.
The valuation of Reliance Industries jumped Rs 45,262.59 crore to reach Rs 20,14,010.63 crore. State Bank of India added Rs 5,533.26 crore, taking its market valuation to Rs 6,71,666.29 crore. However, the market cap of Tata Consultancy Services (TCS) declined by Rs 10,691.45 crore to Rs 14,05,102.38 crore, and that of Infosys went lower by Rs 4,163.13 crore to Rs 6,22,117.38 crore.
Apart from LIC, seven other public sector stocks join this list – State Bank of India, NTPC, Oil and Natural Gas Corp, Indian Oil Corp, Indian Railway Finance Corp, Hindustan Aeronautics, and Coal India. While SBI’s market capitalization increased by Rs 1.88 lakh crore, those of IRFC went up by Rs 1.5 lakh crore.
Nifty ended 0.9%, or 203 points, higher to close at 22,326 after jumping as much as 1.8%. The Sensex, which closed 0.90%, or 655 points, higher to close at 73,651, rose up to 1.6% earlier in the day. Both indices came close to hitting record highs. For the fiscal 2023-24, the Nifty was up 28.61% at the close of trade on Thursday. India's total market value surged by ₹133 lakh crore in FY24.
The rise has been aided by strong macroeconomic fundamentals, sustained inflows from domestic mutual fund investors and the return of foreign portfolio investors after a two-year lull.
The highest inflows across all indices are expected from Shriram Finance, HDFC Bank, and Jio Financial Services. The highest outflows are expected to be from SBI, UPL, and ICICI Bank. NTPC could see an inflow of $ 71 million due to an increase in weightage in the Nifty CPSE Index.
The highest inflows across all indices are expected from Shriram Finance, HDFC Bank, and Jio Financial Services. The highest outflows are expected to be from SBI, UPL, and ICICI Bank. NTPC could see an inflow of $ 71 million due to an increase in weightage in the Nifty CPSE Index.
Indian shares surged with BSE Sensex up 500 points. Nifty50 topped 22,150 level. Private bank stocks and index heavyweight RIL lead top gainers. Sector-wise, Nifty Oil & Gas rose 1.6%, and Nifty Medis surged 1.3%. Nifty Auto, Bank, Financial, FMCG, Metal, and Realty also surged. Meanwhile, in the broader market, Nifty Smallcap100 and Midcap100 gained 0.7% and 0.5%, respectively.
The highest inflows across all indices are expected from Shriram Housing Finance, HDFC Bank, and Jio Financial Services. The highest outflows are expected to be from SBI, UPL, and ICICI Bank. NTPC could see an inflow of $ 71 million due to an increase in weightage in the Nifty CPSE Index.
Indian equity indices plummeted with Sensex tanking over 600 points, Nifty below 21,900. BSE market cap dropped Rs 3.71 lakh crore. Indian equity indices traded sharply lower on Tuesday, dragged by index heavyweights TCS, Reliance Industries, and Infosys, while Asian peers declined ahead of the US Fed policy decision this week.