Sensex Hits 82,000, Nifty Surpasses 25,000: Global Rally

S&P BSE Sensex surged to a record high of 82,076.17, while the Nifty50 crossed the 25,000 mark for the first time. This significant achievement comes as global markets rally, fueled by positive signals from the US Federal Reserve.

Market Performance and Key Movers

At 9:21 AM, the Sensex was up by 334.83 points, marking its unprecedented high. The NSE Nifty50 gained 104.70 points, trading at 25,055.85. Both indices benefitted from the favorable global economic cues.

Top Gainers and Losers on Nifty50

Among the top gainers on the Nifty50 were Maruti Suzuki, Coal India, Hindalco, JSW Steel, and Power Grid. Conversely, the major losers included M&M, BPCL, Hero MotoCorp, Sun Pharma, and Eicher Motors.

Expert Analysis and Market Insights

Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the impact of the US Fed’s recent commentary. The Fed’s hint at a possible rate cut in September is seen as positive for global equity markets. “The normalization of the US economy is a boost for market bulls,” Vijayakumar noted. He also mentioned that the sharp dip in the 10-year US bond yield to 4.05% might influence foreign institutional investors (FIIs) and domestic institutional investors (DIIs) to become buyers, potentially boosting the market further.

However, Vijayakumar cautioned about the geopolitical risks, specifically the escalating tensions in West Asia following the killing of a top Hamas leader. This could heighten the risk of a regional escalation in the Gaza conflict.

Automotive Sector Shows Promising Results

Early Q1 results indicate a robust cyclical upturn in the automobile sector, which appears impressive and may continue to support the market’s upward trend.

Aakhir Tak Editor-in-Chief

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