After touching the historic mark of 81,000 for the first time yesterday, BSE Sensex hit a record high of 81,587 in early deals today, before getting down 228.92 points or 0.28 per cent (10.00 am ). The NSE Nifty50 also crossed 24,700 yesterday hitting a new lifetime high of 24,854 today morning.
The new heights scaled by the Indian equity market extended the winning run led by the IT, banking, and FMCG sectors. The Sensex closed at 81,343.46, and the Nifty at 24,800.85. Wipro, Bajaj Finserv, TCS, and ONGC were among the top gainers on the Nifty, while losers included Coal India, Bajaj Auto, Asian Paints, Hero MotoCorp and Grasim.
As the IT major Infosys published its Q1 of FY25 figures, the domestic markets are expected to continue their rally today. It would not be long before Nifty crosses the 25,000 mark.
The Nifty IT index continues its fourth consecutive bull run and is expected to stay strong for the June quarter of 2024. The optimism of the market towards IT stocks is fueled by TCS and HCL Tech also reporting healthy performance in the June quarter.
Meanwhile, In the US, Dow Jones led the losses going down by 1.29 per cent. S&P 500 (down 0.78 per cent) and Nasdaq (down 0.70 per cent) were not encouraging either. The ongoing volatility in the labour market was also highlighted by the fact that US weekly jobless claims saw an increase amid seasonal fluctuations.
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