Good days for India's stock market investors are continuing to go on. After the Sensex hit fresh all-time highs last week, the national stock index again surged higher, along with its broader counterpart Nifty50.
Both Sensex and Nifty50 closed at their record highs of 63915.42 and 18792.1 respectively today. Both the indices also breach the 64,000 and 19,000 marks respectively for the first ever time today.
India's blue-chip Nifty 50 and Sensex indexes rallied to hit record highs today, lifted by gains in some Adani group stocks and heavyweight financials on the back of persistent foreign buying, stable macros and steady corporate earnings.?Nifty 50 rose as much as 1.03% to a record high of 19,011.25, after struggling to breach the level last week, as per a Reuters report.
Both Nifty and the S&P BSE Sensex fresh all-time closing highs, with the Nifty closing 0.82% higher at 18,972.10 and Sensex closing 0.79% higher at 63,915.42.
Also Read:?Predictions For India's Stock Market After It Hits?All-time High
Adani group's flagship company Adani Enterprises, which was Nifty's top gainer, rose 5.1% on a report that GQG Partners and other investors bought around?$1 billion of additional stakes?in the conglomerate's firms.?Index heavyweights HDFC?and HDFC Bank?extended gains after announcing plans to complete their proposed merger on July 1.
As per the report, analysts also cited the return of foreign buying and steady corporate earnings as triggers for the ongoing stock market rally.?Foreign portfolio investors?have bought Rs 859.83 billion ($10.49 billion) worth of equities in fiscal 2024 so far, after offloading Rs 1.4 trillion and Rs 376.32 billion in fiscal 2022 and 2023, respectively.
Also Read:?American Investment Bank Jefferies Predicts?Sensex?To Hit 1 Lakh
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