Historic milestone for the Indian stock market! Sensex breached 79,000 while Nifty crossed 24,000 first time

The Sensex yesterday soared 470.71 points to reach 79,159.89, while the Nifty rose by 164.10 points to stand at 24,032.90. Both the markets broke all previous records.

The day began with a mild depression as the stock market opened flat, initially showing slight declines following a record-high close in the previous trading session.

Thursday 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.

The dynamics of the market as a whole were influenced by investors’ close observation of a variety of industries, including technology, healthcare, and banking and finance. Strong investor confidence amid positive domestic economic indicators and stable global markets was reflected in the Sensex and Nifty’s surge past key milestones.

Analysts attribute yesterday’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.

The record-breaking levels achieved by the Sensex and Nifty yesterday marked a significant milestone in India’s financial markets, highlighting their role as key drivers of economic growth and investor sentiment.