Stock Market
Stock market: Nifty crosses 25,000 for first time, Sensex at all-time high
Mumbai/IBNS: Indian stock markets opened at a record high on Thursday (Aug 1), with benchmark indices Nifty starting at 25,030.95 after gaining 92.15 points, or 0.37 percent, and BSE Sensex surged to a record high of 82,082 after opening at 81,949.68 points, with a gain of 208.34 points, or 0.25 percent, from the previous close.
Market experts said the Indian stock markets were buoyed by favourable global market trends and a hint of a rate cut by Fed Chair Jerome Powell as early as September.
Maruti, JSW Steel, Hindalco, Coal India, and Tata Motors emerged as top gainers in the Nifty 50, while Mahindra & Mahindra, BPCL, Infosys, Ultratech Cement, and Sunpharma were among the top losers.
The broad market indices on the National Stock Exchange (NSE) also sustained the rally and opened with gains, and all sectoral indices opened on a positive note, according to reports.
The Nifty 50 has gained more than 15 percent in the last six months, while the BSE Sensex has surged more than 14 percent during the same period.
The Indian markets have been rallying since the announcement of the Union Budget 2024 by the central government on July 23.
The global stock markets showed mixed results, with Asia largely tracking the New York Stock Exchange's (NYSE) gains, according to reports.
The Dow Jones and S&P 500 rose 0.24 percent and 1.58 percent, respectively, while the Nasdaq surged 2.64 percent, according to ANI.
The US dollar and Treasury yields fell post-Fed meeting, while Brent crude prices rose by 0.8 percent to USD 81.51 per barrel, continuing gains from the previous session, reports ANI.
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