Sensex Crosses 84,000, Nifty Hits All-Time High

Today, the stock market witnessed a significant surge as the S&P BSE Sensex crossed the 84,000 mark for the first time, while the NSE Nifty50 reached a fresh all-time high. By 11:30 AM, the Sensex was up 965 points, standing at 84,149.80, while the Nifty50 gained 276.60 points to trade at 25,692.40.

This positive movement on Dalal Street followed a strong rally on Wall Street, driven by better-than-expected labor market data and a larger-than-anticipated interest rate cut in the US.

Most broader market indices, including small-cap and mid-cap stocks, rebounded sharply. Nifty Auto and Nifty Metal emerged as the top gainers among sectoral indices, while Nifty Bank and Nifty Financial Services also contributed significantly to today’s rally.

Notably, all sectoral indices were trading in the positive territory except Nifty Pharma, which saw a marginal dip.

The top five gainers on the Nifty50 were M&M, JSW Steel, Coal India, Eicher Motors, and Maruti, whereas Grasim, Cipla, TCS, NTPC, and Axis Bank were the top losers.

Ahead of today’s market opening, several analysts had predicted that the Sensex and Nifty would rally toward record levels due to positive developments, which proved to be accurate. These developments have boosted the risk appetite of investors on Dalal Street.