Today (April 9) marks a historic milestone for the Indian stock market as the benchmark BSE Sensex crossed the 75,000 mark for the first time. Both the Sensex and Nifty 50 indices reached record-high levels in opening trade, with the Sensex opening 381.78 points, or 0.51%, higher at 75,124.28, and the Nifty 50 surging 98.8 points, or 0.44%, to open at 22,765.10. Additionally, the Bank Nifty index opened at a record high of 48,810.80, up 229.10 points, or 0.47%.
Broader market indices also supported the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining over 0.3% each.
Strong buying was observed across various sectors, with Nifty Realty, Nifty Auto, Nifty IT, and Nifty PSU Bank witnessing significant gains.
Leading the gains in the Sensex were stocks like Infosys, Tata Motors, Wipro, TCS, Tech Mahindra, and ICICI Bank. However, Reliance Industries, JSW Steel, Titan Company, and Larsen & Toubro experienced losses.
Dhiraj Relli, MD & CEO at HDFC Securities, attributed the continued surge in Indian equity markets to hopes of a favorable outcome from the upcoming general elections and subsequent policy measures. Additionally, encouraging monthly and yearly data releases, along with operational and order announcements by companies, have contributed to positive sentiments and stock-specific buying.
The stock market’s ascent to new highs has been further propelled by strong domestic macroeconomic fundamentals and positive cues from global markets. As investors remain optimistic about the economic outlook, the Indian stock market continues its upward trajectory into uncharted territory.
