Indian Stock Market Soars With Sensex & Nifty Jump Reaching New All Time Highs Despite Recession Fears

At a time when the fears of a global recession are knocking on the door and the RBI has already done back-to-back interest rate hikes amid inflationary pressure, there¡¯s finally some good news for India¡¯s stock market investors.

PTI

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Sensex & Nifty Hit All Time Highs

The national stock market indices Sensex and Nifty50 have hit new all-time highs today..

During the trading session, the Sensex surged to touch its fresh all-time high mark of 62,887.40, whereas the broader index Nifty50 surged to hit its new all time high of 18,678.10. However, both the indices closed the trading session at lower levels, with the Sensex closing at 62,681.84 and the Nifty50 closing at 18,608.10.

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Tumultuous Year For Stock Market

The Nifty50 and Sensex had begun the year at 17625 and 59183, respectively, in January. And soon after Russia invaded Ukraine on February 24th, stock markets around the world, including India, plunged.

Sensex plunged to 52842 on March 7th, whereas Nifty50 fell to 15863 the same day. Following that, the two indices began to recover, but they have been on a roller coaster for the majority of this year. In mid-June this year, Nifty50 fell to its 1-year low of 15,183.40, whereas Sensex too hit its 1-year low of 50921 on the same day as Nifty50, i.e., on June 17th.

But since then, both indices have gradually risen, finally breached their all-time highs multiple times in the past few days, and again hit their fresh highs today.

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Mutual Fund SIPs At All Time High

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Last month, AMFI data had shown that inflows into mutual fund SIPs had reached their all-time high mark in Octoberafter breaching the Rs 13,000 crore mark. And with the market soaring this month as well, it seems that investments in SIPs may reach a new high as well.

Also Read: Millennials Prefer SIPs As Investment Avenue Says Survey

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