Tuesday, 18 June 2024
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Stock Market

Sensex and Nifty 50 achieved new all-time highs for the second day

  • The banking and financial giants led the advances on Thursday, December 28.
  • Axis Bank, Tech Mahindra, Asian Paints, and Titan are among the firms whose shares are under pressure.
  • Since November, the domestic market has had a robust uptrend.

The local market is experiencing rapid growth. The banking and financial giants led the advances on Thursday, December 28, as the equity benchmarks Sensex and Nifty 50 reached new all-time highs for the second straight session.

A little over half a percent rose when the Nifty 50 opened at 21,715 against the previous close of 21,654.75 and reached its record high of 21,759.05; similarly, the Sensex opened at 72,262.67 against the previous close of 72,038.43 and gained 0.5% to reach its new record high of 72,406.75 in morning trade on Thursday.

Sensex and Nifty

Axis Bank, Tech Mahindra, Asian Paints, and Titan are among the firms whose shares are under pressure; other companies with decent traction include Mahindra, NTPC, Nestle, Bharti Airtel, and Bajaj Finserv.

Top-performing sectoral indices include PSU Bank, auto, and banking, while indices for IT, pharmaceuticals, and media have had decreased trading. Since November, the domestic market has had a robust uptrend, as evidenced by the Sensex and Nifty 50’s roughly 8% surge in December.

Healthy macroeconomic data, a slowdown in US inflation, expectations of rate cuts, persistent US bond yields, a declining dollar, and purchases by foreign portfolio investors are all factors that have contributed to the market’s gain. The involvement of individual investors has also been crucial.

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