In a whirlwind of bullish activity, the Indian stock market soared to new heights in Thursday’s trading session. Both the Sensex and Nifty indices exhibited rapid gains throughout the day, culminating in record-breaking numbers by mid-afternoon.

Between 1 and 2 pm on Thursday, the Sensex, the benchmark index of the Bombay Stock Exchange (BSE), reached an all-time high of 74,501 points, reflecting the fervent optimism pervading the market. By the end of the trading day, the Sensex closed at an impressive 74,227.63 points, marking a significant gain of 350.81 points. Similarly, the Nifty, representing the National Stock Exchange (NSE), surged to 22,514.70 points, with a noteworthy increase of 80.00 points.

The day witnessed notable sectoral trends, with the electricity and IT sectors experiencing growth ranging from 0.5 to 1 percent. Conversely, sectors such as PSU banks and oil and gas faced declines ranging from 0.7 to 1.16 percent. The BSE Midcap index maintained stability, closing flat, while the Smallcap index saw a modest increase of 0.5 percent, indicating a broad-based bullish sentiment.

Top Gainers and Losers

Gainers: HDFC Bank, Eicher Motors, Asian Paints, Tech Mahindra, and Titan Company emerged as top performers on the Nifty, buoyed by the positive market sentiment.

Losers: ONGC, Shriram Finance, Adani Ports, BPCL, and Bharti Airtel faced downward pressure, closing in the red amid sectoral fluctuations.

On the Sensex, stocks of HDFC Bank, Titan, Tech Mahindra, and Asian Paints, along with TCS, Maruti, Kotak Mahindra Bank, and Bajaj Finserv, stood out as the leading gainers, underscoring the robust performance of these companies. Conversely, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC, and Reliance witnessed losses, reflecting the mixed fortunes within the market.

Rise in Rupee’s Value

Besides the stock market rally, the Indian rupee displayed strength against the US dollar. The rupee opened at 83.44 against the greenback in the interbank foreign exchange market, experiencing a notable rise of 9 paise from its previous close. This positive momentum marks a contrast to the previous day’s performance, where the rupee had depreciated by 11 paise against the US dollar, closing at 83.53.

Last week’s trading session witnessed a remarkable surge in the Indian stock market, with the Sensex hitting an all-time high amid widespread gains across sectors. The bullish momentum was underlined by notable performances in leading companies, while the rupee’s appreciation against the dollar added to the positive sentiment. As investors continue to navigate through dynamic market conditions, the day’s developments serve as a testament to the resilience and potential of the Indian financial landscape.