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Green Again! Indian Stock Market Recovers After Worst Drop In 10 Months: Here’s What Changed

April 8, 2025, 10:20 am

A day after facing its sharpest fall in 10 months, the Indian stock market bounced back with strong momentum on Tuesday, April 8. In early trade, investor sentiment appeared to recover from the US tariff-driven panic that rocked global equities the previous session.

At 9:15 am, the BSE Sensex opened 1,141.14 points higher, gaining 1.56% to reach 74,279.04. Meanwhile, the NSE Nifty jumped 401.10 points or 1.81% to open at 22,562.70.

Tata Steel leads gainers; Sun Pharma the only laggard

Among the 30 Sensex constituents, Tata Steel led the rally with a sharp 4.98% rise, trading at ₹136.05. Titan Company followed, up 4.71% at ₹3,166.05, and Tata Motors gained 3.48%, trading at ₹600. Only Sun Pharmaceutical Industries remained in the red, slipping 0.34% to ₹1,662.75.

Consumer durables, metal, realty sectors shine

Sector-wise, the Nifty Consumer Durables Index surged the most, climbing 3.25% to 35,112.40. The Nifty Metal Index followed with a 2.99% gain at 8,080.90, while the Nifty Realty Index rose 2.42% to 795.

Recap of the Monday market meltdown

The rebound comes after a brutal session on Monday, April 7, where the Sensex plunged 2,226.79 points or 2.95% to close at 73,137.90. The Nifty fell 742.85 points or 3.24% to settle at 22,161.60. The massive selloff was triggered by investor fears linked to new US tariffs, resulting in panic across global markets.

On Monday, Tata Steel saw the steepest drop among Sensex stocks, falling 7.73% to ₹129.60. It was followed by Larsen & Toubro (down 5.78% at ₹3,070.85) and Tata Motors (down 5.54% at ₹579.85). Hindustan Unilever was the sole gainer, inching up 0.25% to ₹2,250.15.

Sector-specific losses: Metal and Realty tumble

The Nifty Metal Index recorded the sharpest sectoral fall of 6.75% on Monday, closing at ₹7,846.35. Realty followed, down 5.69% at ₹776.20, and Media declined by 3.94% to ₹1,429.90.

In the metal space, Lloyds Metals & Energy tanked 8.86%, National Aluminium fell 7.86%, and JSW Steel dropped 7.53%. Among real estate stocks, Anant Raj declined 7.66%, Sobha 7.46%, and DLF 7.03%. In media, Zee Entertainment Enterprises fell 6.80%, followed by PVR Inox (5.55%) and Dish TV (4.35%).

FIIs sell big, DIIs buy bigger

Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹9,040.01 crore. In contrast, Domestic Institutional Investors (DIIs) picked up the slack, buying ₹12,122.45 crore worth of stocks.

Meanwhile, the 10-year Indian Government Bond saw a 0.23% decline, trading at ₹102.05.

Crash on Dalal Street? These 3 Stocks Could Still Make You Big Money

April 7, 2025, 12:33 pm

In spite of the sudden market crash in equity markets prompted by global trade tensions, leading brokerage houses have found exciting opportunities in specific Indian stocks. Companies such as Antique, Emkay Global, and InCred Equities have published positive outlooks on Trent, Delhivery, and Ashok Leyland, highlighting their strong fundamentals, aggressive growth strategies, and beneficial industry dynamics.

The Indian market crashed sharply on Monday in accordance with the international panic created by increasing trade tensions and recession fears. The BSE Sensex fell over 3,000 points, while the Nifty50 lost over 1,000 points, momentarily slipping below the key 22,000 mark within the initial 15 minutes of trade.

However, amid turmoil, senior analysts are urging investors to take a step back and look at the larger picture and target quality stocks with robust growth prospects.

Antique Retains ‘Buy’ on Trent Even After Target Reduction

Antique Broking has reaffirmed its ‘Buy’ recommendation on Trent, reducing its target price to ₹6,801 from ₹7,363, still commanding an upside of 22% over the previously traded price of ₹5,561.

The brokerage cut FY25–FY27 EPS estimates by 2% 10%, with Trent’s 28% YoY Q4 revenue growth marginally short of expectations. Nonetheless, the store expansion continues unabated. Trent opened 130 new Zudio stores and 10 new Westside stores in Q4 alone. The majority of these were opened toward the end of the quarter, and Antique anticipates their full impact to be felt in Q1 FY26.

“While the high base effect will moderate Trent’s growth momentum in the near term, the company continues to be well-placed to strongly outperform its peers over the medium to long term,” the brokerage added.

The report also highlighted that Trent is expected to continue its aggressive growth trajectory with a strategy to open about 200 new Zudio stores within the next two years.

Emkay Sees 55% Upside in Delhivery After Ecom Express Acquisition.

Emkay Global has reiterated its ‘Buy’ recommendation on Delhivery with a target price of ₹400, which implies a 55% return from the current price of ₹258.

The major in logistics recently hit the headlines by acquiring Ecom Express, the country’s second-largest B2C 3PL player, for ₹14 billion. The acquisition makes Delhivery a market leader in the industry with a 55–60% market share in the B2C express logistics segment—more than double the size of its nearest rival.

Together, the combined network already serves 97% of India’s pin codes, positioning the company for major cost synergies in the next 12–18 months. Analysts also anticipate enhanced last-mile utilization, which represents about 50% of linehaul cost now, to further boost profitability after integration.

Although the valuation seems compelling, the acquisition won’t be short-term earnings accretive. Yet, given high customer overlap and experience with the Spoton acquisition, Emkay expects easier sales retention and network integration,” the report said.

The report, however, also pointed to issues related to Meesho insourcing logistics increasingly, which would affect volume growth in the short term.

InCred Recommends ‘ADD’ in Ashok Leyland, has a Target of ₹265

InCred Equities has provided Ashok Leyland with an ‘ADD’ rating and a target price of ₹265, which indicates a possible 29% increase from its previously traded price of ₹205.

The brokerage views high growth potential in the medium and heavy commercial vehicle (MHCV) segment, specifically in the first half of FY25, due to a low base effect. This is likely to aid a 6% growth in FY26.

Along with core commercial vehicle volume sales, Ashok Leyland is also gaining traction in diversifying its revenues. The company is stepping up its play on exports, light commercial vehicles (LCVs), and spare parts, which is likely to cushion EBITDA volatility due to truck demand fluctuations.

“With early demand recovery signs, InCred continues to remain bullish on the stock,” the report continued.

Underlying Investment Themes Remains Unscathed

These tips are part of a wider optimism among analysts in some areas: fashion retail’s speedy store roll-out, consolidation in the logistics market, and diversified automotive revenue streams. All of these spaces offer promising upside potential even amid near-term volatility.

As global uncertainties continue to weigh on Indian markets, brokerage firms advise investors to target high-quality stocks with convincing long-term stories—such as Trent, Delhivery, and Ashok Leyland.

Sensex Crashes Over 700 Points Today – Here’s Why

February 3, 2025, 1:04 pm

The Indian stock market faced sharp losses on Monday, February 3, as weak global trends triggered heavy selling. The Sensex tumbled over 700 points, while the Nifty 50 dropped below 23,250.

Sensex and Nifty Open Lower

The Sensex started the day at 77,063.94, down from its previous close of 77,505.96. It quickly fell further to 76,791.09, losing over 700 points. Similarly, the Nifty 50 opened at 23,319.35, compared to its last close of 23,482.15, and dropped to 23,246.55.

Mid and small-cap stocks suffered even more. The BSE Midcap and Smallcap indices fell over 1% each.

By 11:15 AM, the Sensex had recovered slightly but was still down 418 points (0.54%) at 77,100. The Nifty 50 remained 160 points lower (0.64%) at 23,337.

Market capitalization of BSE-listed firms fell from ₹424 lakh crore in the previous session to ₹419 lakh crore. Investors lost nearly ₹5 lakh crore in a single day.

Why Is the Market Falling?

Experts point to five major reasons behind the downturn.

1. Weak Global Trends

Global markets struggled after US President Donald Trump announced new tariffs on Canada, Mexico, and China. Japan’s Nikkei and Korea’s KOSPI fell 3% each.

“Despite an excellent budget, the market will be under pressure from the Trump tariffs and the heightened global uncertainty that these ‘initial rounds of tariffs’ have triggered,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

2. Trump’s Tariffs Shake Market Sentiment

Trump imposed 25% duties on imports from Canada and Mexico and a 10% tariff on Chinese goods. Experts fear this could escalate into a full-blown trade war.

“The 25% tariffs imposed on Mexico and Canada are meant to punish them for issues like immigration and illicit fentanyl trade. Trump may use tariffs against other countries again for non-trade issues,” said Vijayakumar.

China responded cautiously, choosing to take the matter to the WTO instead of retaliating immediately.

3. Dollar Strengthens, Rupee Hits Record Low

The Indian rupee fell to a record low, breaching 87 per US dollar for the first time. Meanwhile, the US dollar surged after Trump’s tariff announcement.

“The spike in the dollar index above 109.6 will trigger more selling by FIIs (foreign institutional investors), putting the market under pressure,” Vijayakumar noted.

4. Uncertainty Over RBI’s Policy Decision

With the Union Budget behind, investors are now waiting for the Reserve Bank of India’s (RBI) upcoming Monetary Policy Committee (MPC) meeting.

Finance Minister Nirmala Sitharaman announced tax reforms to boost consumption. Experts believe the RBI might cut interest rates by 25 basis points to support economic growth. However, uncertainty around this decision is making investors cautious.

5. FIIs Continue Selling Indian Stocks

Foreign institutional investors (FIIs) have been offloading Indian stocks since October 2024, weighing down market sentiment.

Between October 1, 2024, and February 1, 2025, FIIs sold nearly ₹2.7 lakh crore worth of Indian equities. High stock valuations, weak corporate earnings, and rising US bond yields have driven FIIs away, further pressuring the market.

The Indian stock market faces multiple challenges, including global trade tensions, FII outflows, and policy uncertainties. Investors should brace for continued volatility in the coming weeks.

Indian Markets Open Flat Despite Global Decline

September 9, 2024, 10:58 am

Indian markets began the week on a downtrend, influenced by weak global trends and a decline in Asian markets. Global markets faced pressure ahead of the upcoming Federal Reserve meeting and concerns about slow economic growth in both Germany and China.

The Nifty 50 index on the National Stock Exchange opened with a decline of 28 points or 0.12%, landing at 24,823 points. Similarly, the BSE Sensex opened lower by 210 points or 0.26%, at 80,973.75.

Ajay Bagga, a banking and market expert, commented, “The markets are facing eight days of expected volatility as the Fed rate cut decision on September 18 approaches. The usual poor performance of markets in September is evident. Additionally, the slowdown in China and Germany is amplifying global growth concerns.” He added that the news of a major German car manufacturer potentially shutting down its factories highlights the economic issues facing Germany.

On the National Stock Exchange, most broad market indices opened in negative territory, with the exception of the Nifty MicroCap 250. Among the sectoral indices, Nifty FMCG, Nifty Media, and Nifty PSU Bank saw gains, while others declined.

Despite the challenges, experts pointed out that domestic investors are likely to buffer the Indian markets against external shocks. Bagga noted, “The impact on Indian markets is largely due to Foreign Institutional Investor (FII) selling. However, robust domestic inflows of over Rs 11 lakh crore have consistently supported the market, even with net FII outflows exceeding Rs 5.5 lakh crore from January 2022 to August 2024. We expect continued volatility for a few weeks but don’t anticipate drastic declines due to strong domestic liquidity.”

Asian markets also suffered heavy losses on Monday, driven by selling pressure following lower-than-expected U.S. payroll growth. Japan’s Nikkei 225 and Hong Kong’s Hang Seng indices both fell by over 1.50%. Japan’s Nikkei dropped 1.84%, or 632 points, while Hong Kong’s Hang Seng declined by 1.73%, or 301 points.

Taiwan’s major index, the Taiwan Weighted, also slid by over 2%, and South Korea’s KOSPI index fell by 1.15%. Overall, investors were bearish across Asian markets, with concerns about slowing growth in China and Germany intensifying the sell-off that had already been triggered by expectations of the Fed rate cut.

Indian stocks had already taken a significant hit on Friday, the last trading day of the week, with all sectoral indices finishing deeply in the red. The banking and energy sectors were particularly affected, as the Nifty 50 dropped 292.95 points or 1.17%, ending at 24,852.15. The BSE Sensex fell 1,017.23 points or 1.24%, closing at 81,183.93.

Sensex Hits 82,600, Nifty Surpasses 25,300 as Markets Reach New Records

September 2, 2024, 11:47 am

Benchmark equity indices Sensex and Nifty reached new all-time highs in early trading today, following positive regional trends and encouraging US economic data that alleviated growth concerns. Investors are also awaiting domestic quarterly growth figures.

In early trade, the NSE Nifty 50 index climbed to 25,333.28, and the S&P BSE Sensex rose to 82,725.28, with both indices setting fresh records.

The equity markets have been on a steady rise, buoyed by expectations of a US interest rate cut and an influx of foreign funds.

Among the 30 companies listed on the Sensex, Bajaj Finserv, HCL Tech, ITC, Tech Mahindra, Infosys, and Asian Paints saw the biggest gains. Conversely, Tata Motors, Mahindra & Mahindra, NTPC, and Bharti Airtel lagged.

The Nifty index extended its winning streak to twelve consecutive sessions on Friday, marking its longest-ever rally and pushing the market to new highs on hopes of an upcoming US interest rate cut.

In the automotive sector, TVS Motor reported a 13% increase in domestic two-wheeler sales for August, while Hero MotoCorp’s domestic sales grew by nearly 5%.

India’s economic growth for the April-June quarter was 6.7% year-on-year, down from 7.8% in the previous quarter but still the fastest among major global economies. Sakshi Gupta, Principal Economist at HDFC Bank, noted that this growth was achieved despite a typical seasonal slowdown and the impact of the national general elections.

Broader Asian share markets began the week quietly as investors prepared for a data-heavy week, including a key US jobs report that could influence whether the anticipated rate cut this month will be modest or substantial.

Stock Market Today: BSE Sensex Drops Over 700 Points; Nifty50 Hovers Around 24,800

August 2, 2024, 10:31 am

On Friday, the Indian equity benchmark indices, BSE Sensex and Nifty50, experienced a sharp decline influenced by global trends. The BSE Sensex hovered near 81,200 levels, and Nifty50 approached 24,800. At 9:16 AM, the BSE Sensex was trading at 81,170.86, a drop of 697 points or 0.85%, while Nifty50 stood at 24,805.70, down by 205 points or 0.82%.

Ajit Mishra, SVP of Research at Religare Broking, noted, “Nifty is now approaching its immediate hurdle at 25,100 and will need fresh triggers to surpass this level. While buoyancy in the global markets, particularly in the US, is encouraging, the underperformance of banking majors is limiting momentum. We continue to advocate a buy on dips strategy, emphasizing careful stock selection.”

According to Nagaraj Shetti from HDFC Securities, the critical resistance range of 25,000-25,100 remains unbroken, leading to potential short-term consolidation or a minor dip, with immediate support at 24,750 levels.

Global markets are exhibiting weakness, with S&P 500 futures, Hang Seng futures, Nikkei 225 futures, Japan’s Topix, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures all trading lower. The forex market remains relatively stable, with minimal changes in the euro, Japanese yen, offshore yuan, and Australian dollar against the US dollar.

Oil prices increased on Friday but are on track for a fourth consecutive weekly decline due to signs of sluggish global fuel demand growth overshadowing concerns about supply disruptions in the Middle East. Brent crude futures increased by 0.4% to $79.85 per barrel, while U.S. West Texas Intermediate crude futures rose by 0.5% to $76.69.

Several stocks, including India Cements, Granules, BirlaSoft, Indiamart, RBL Bank, and GNFC, are in the F&O ban period today. On Thursday, foreign portfolio investors were net buyers at Rs 2,089 crore, while domestic institutional investors purchased shares worth Rs 337 crore.

Titan, Hindustan Zinc, Delhivery, and 98 other companies are scheduled to announce their first-quarter results on Friday.

Indian Markets Dip on Global Weakness: Nifty and Sensex Decline

July 18, 2024, 11:19 am

The Indian markets began Thursday’s trading session with a slight decrease influenced by weak global signals. The Nifty 50 index showed a decline of 85 points, or 0.37 per cent, settling at 24,526, while the BSE Sensex also dropped by 304 points to 80,406 in early trading.

Across the broader market on the National Stock Exchange, major indices like Nifty Next 50, Nifty 100, Nifty Midcap, and Nifty Small Cap faced selling pressure and declined. Among the sectoral indices, except for Nifty FMCG, Nifty IT, and Nifty Realty, all others recorded declines, notably with Nifty Media seeing a drop of over 2 per cent due to significant selling pressure.

Leading gainers in the Nifty 50 included LTIMindtree, Axis Bank, Apollo Hospital, and Infosys, whereas Bajaj Auto and Asian Paints were among the top losers, each experiencing declines of more than 2 per cent, the latter following its financial results. Hero MotoCorp, Eicher Motors, and Tata Steel also featured prominently among the top losers.

Ajay Bagga, a Banking and Market Expert, noted, “Asian markets are down in line with the US, driven by a stronger Yen and reduced exports, which have led the Nikkei to decline nearly 2 per cent. Indian markets are likely to be subdued given weak global cues. Additionally, with the Union Budget scheduled for July 23rd, traders are expected to book profits as they lighten their positions ahead of this significant market event next week. Safe haven demand has driven rallies in Gold and Silver, while lower US inventories are boosting crude oil prices.”

In Asia, markets declined amidst challenges in tech and chip sectors due to geopolitical tensions and US export constraints, with Japan’s Nikkei 225 falling by over 2 per cent and the Kospi by 0.98 per cent. Notably, in India, Foreign Institutional Investors (FIIs) purchased shares worth Rs 1,271.45 crore, contrasting with Domestic Institutional Investors’ (DIIs) net sales of Rs 529.48 crore on July 16.

Crude oil prices saw slight increases, with WTI at USD 83.30 and Brent at USD 85.35. The US Dollar Index (DXY) rose by 0.05 per cent to 103.73. Meanwhile, US markets witnessed significant declines, with the S&P 500 down 1.39 per cent and the Nasdaq Composite plummeting 2.77 per cent.

Stock Market Today: BSE Sensex Tops 80,000; Nifty50 Hits New Lifetime High

July 3, 2024, 10:07 am

In a notable surge, the BSE Sensex and Nifty50, India’s key equity benchmark indices, reached historic highs during today’s trading session. The 30-share Sensex surpassed the monumental 80,000 mark for the first time, while the Nifty50 also set a new peak at 24,292.

As of 9:22 AM, the BSE Sensex was trading at 79,935.12, marking a gain of 494 points or 0.62%. Similarly, the Nifty50 stood at 24,257.60, up by 134 points or 0.75%. This remarkable performance follows a recent bout of profit booking on Tuesday, as the Nifty briefly exceeded the 24,200 level.

Market analysts from Motilal Oswal Financial Services anticipate continued upward momentum, suggesting consolidation at elevated levels. Factors influencing future trends include upcoming remarks by Federal Reserve Chairman Powell and the release of meeting minutes, likely to introduce volatility.

According to Nagaraj Shetti of HDFC Securities, the Nifty’s long-term chart remains robust, foreseeing a potential resumption of upward momentum post-consolidation. Key technical levels indicate immediate support at 23,980, with resistance expected around 24,400.

Internationally, global markets exhibited mixed signals: S&P 500 and Nasdaq 100 futures showed minimal movement, while Hang Seng futures climbed 0.5%, Japan’s Topix rose 0.2%, Australia’s S&P/ASX 200 increased by 0.3%, and Euro Stoxx 50 futures saw a 0.3% rise. In the forex market, major currencies like the euro, Japanese yen, offshore yuan, and Australian dollar maintained stability against the US dollar.

The ongoing developments in both domestic and international markets are poised to influence investor sentiment and trading patterns as the session progresses.

BSE Sensex Starts Strong: Up 200 Points, Nifty 50 Above 23,550 in Today’s Market

June 25, 2024, 3:25 pm

Today, the Indian stock market saw a positive opening as both the BSE Sensex and Nifty50 began in the green on Tuesday. The BSE Sensex surged by 200 points, reaching above 77,500, while the Nifty50 climbed past the 23,550 mark. As of 9:21 AM, the Sensex was trading at 77,523.37, marking a gain of 182 points or 0.24%, and the Nifty50 stood at 23,583.15, up by 45 points or 0.19%. Despite starting off slow, the domestic market managed to close Monday with modest gains. Analysts are predicting potential volatility ahead due to the monthly derivatives expiry week.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted, “This week, market movements will hinge on global macroeconomic indicators and the progress of monsoon in India. We anticipate the Nifty to stabilize amidst some volatility during the derivatives expiry.”

According to Nagaraj Shetti from HDFC Securities, “In the short term, Nifty’s outlook remains optimistic despite fluctuations. After rebounding from around 23,300 levels, there’s a chance for Nifty to test the upper range of 23,650-23,700 soon, with immediate support seen at 23,350.”

In the US, the stock market closed with mixed results as the Dow Jones Industrial Average hit a one-month high, contrasting with the Nasdaq’s decline of over 1%. This shift was driven by investors moving away from AI-related stocks and reallocating investments amid expectations of potential interest rate cuts by the Federal Reserve later this year. Asian markets, on the other hand, showed resilience, edging higher despite a varied performance on Wall Street, fueled by speculations of a slowdown in the tech sector rally.

Meanwhile, oil prices remained stable on Tuesday despite concerns surrounding China’s economic recovery and geopolitical tensions stemming from Ukrainian attacks on Russian refineries.

Several stocks, including Balrampur Chini Mills, PEL, Chambal Fertilisers, Indus Tower, PNB, SAIL, GNFC, and Granules, are currently in the F&O ban period in the Indian market.

Foreign portfolio investors continued to be net sellers for the second consecutive day, with net sales amounting to Rs 653 crore on Monday. Concurrently, domestic institutional investors also divested shares worth Rs 820 crore.

Overall, the net long position of Foreign Institutional Investors (FIIs) increased from Rs 73,991 crore on Friday to Rs 1.01 lakh crore on Monday, indicating their sustained interest in the Indian equity market.

Stock Markets Start Week Strong, Nifty Hits Record High

June 18, 2024, 11:31 am

Domestic markets maintained their bullish momentum on Tuesday, with both the Nifty 50 and BSE Sensex showing gains in the opening session. The Nifty 50 climbed 60 points to 23,529, while the BSE Sensex rose by 101 points, reaching 77,195 shortly after trading commenced.

With the exception of Nifty Pharma, Nifty Healthcare, and Nifty MidSmall Healthcare, all other sectoral indices began the week positively, advancing in the opening session. The markets had opened today following a closure on Monday for Eid-Al-Agha.

Ajay Bagga, a banking and market expert, commented, “The two big looking triggers are the complexion of the 100-day priorities of the new government and the Union Budget measures. The two big political developments will be the choice of the Speaker of the lower house of parliament, the Lok Sabha and the announcement of the BJP President.”

He also noted, “PSU companies, banks, capital goods, infrastructure, railways, defence stocks remain the preferred bets in the Indian markets.”

Among the top gainers in the Nifty 50 were Adani Enterprises, Wipro, Adani Ports, Mahindra and Mahindra, and Titan, all showing advances in the opening session. On the other hand, the top losers included Dr. Reddy’s, Maruti, TCS, HDFC Life, and Divis Labs.

Shares of Hindustan Aeronautics surged more than 4 percent on Tuesday after the company secured a Defence Ministry tender worth over Rs 45,000 crore for 156 Light Combat Helicopters.

In the broader market on the NSE, all indices, including Nifty 100, Nifty Next 50, Nifty Midcap, and Nifty Smallcap, exhibited gains in early trading on Tuesday.

In Asian markets, stocks advanced, buoyed by gains in US technology giants, although Chinese equities were pressured by a worsening housing slump in May. Australia’s central bank is anticipated to keep its benchmark rate at 4.35 percent, while US markets prepare for retail sales data and Federal Reserve speeches ahead of Wednesday’s holiday.

European stock markets fluctuated between gains and losses amid concerns over the upcoming French election, leading to the highest equity volatility since October. France’s index gained nearly 1 percent, while Germany’s index advanced 0.4 percent.

In the commodity market, gold slid 0.5 percent to USD 2320/ounce as traders looked for indications from US policymakers and economic data regarding the timing of Federal Reserve interest rate cuts. Brent crude rose 2 percent to a one-month high above USD 84/barrel on hopes of rising global demand and OPEC+’s agreement to extend supply cuts.

Sensex Reaches Record Highs Days After Post-Election Market Crash

June 7, 2024, 4:56 pm

The benchmark Sensex surged by over 1,720 points, marking a remarkable over 2% increase and reaching all-time intraday highs. This significant rise coincided with the Reserve Bank of India (RBI) revising its GDP growth projection for 2024-25 from 7% to 7.2%.

The 30-share BSE Sensex soared by 1,720.8 points, hitting an unprecedented peak of 76,795.31 during the day’s trading session. Concurrently, the NSE Nifty witnessed a substantial increase of 498.8 points, reaching 23,320.20.

Following the June 4 counting day, when the stock market faced a significant downturn, the BSE benchmark has experienced a remarkable surge of 2,995.46 points or 4.15% over the past two days.

Despite the economic uncertainty, the RBI opted to maintain the policy rate unchanged for the eighth consecutive time, emphasizing its commitment to closely monitor inflationary trends.

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