Economy & Business

    Sensex hits historic high, crosses 79,000; Nifty breaks 24,000 barrier in stock market rally

    The Hawk
    June27/ 2024
    Last Updated:

    Despite a flat opening, investor confidence grew, driven by favorable domestic economic indicators and global market stability.

    Representative Image

    Mumbai: Today marked a historic day for India's stock markets as the BSE Sensex surged past the 79,000 mark and the NSE Nifty breached 24,000 for the first time, setting new records in mid-day trading.
    The Sensex soared 470.71 points to reach 79,159.89, while the Nifty rose by 164.10 points to stand at 24,032.90.
    The day began with a mild setback as the stock market opened flat, initially showing slight declines following a record-high close in the previous trading session.
    The Sensex commenced trading 94.13 points lower at 78,580.12, while the Nifty opened at 23,849.55 after a drop of 19.25 points. The early market sentiment was tempered by weaker cues from Asian markets, influencing initial trading patterns.
    Throughout the morning session, the market displayed a mixed performance among Nifty-listed companies, with 21 stocks witnessing gains and 29 experiencing declines.
    Investors closely monitored sectors ranging from banking and finance to technology and healthcare, contributing to the overall market dynamics.
    The surge past significant milestones by both the Sensex and Nifty reflects strong investor confidence amidst favorable domestic economic indicators and global market stability.
    Analysts attribute today's record-breaking performance to renewed optimism over corporate earnings, sustained foreign institutional investments (FIIs), and positive cues from global indices.
    Market experts suggest that the ongoing bullish trend underscores India's resilience in the face of global economic uncertainties, positioning the country as a robust investment destination. As trading progresses, market participants continue to monitor sector-specific developments and policy announcements for further insights into future market trends.
    The record-breaking levels achieved by the Sensex and Nifty today mark a significant milestone in India's financial markets, highlighting their role as key drivers of economic growth and investor sentiment.