Fifth Consecutive Session Sees Nifty 50, Sensex Hit Record Highs

Fifth Consecutive Session Sees Nifty 50, Sensex Hit Record Highs

VoM News Desk | December 28, 2023 | 04:02 PM IST | Breaking News | Follow on Google News

Fifth Consecutive Session Sees Nifty 50, Sensex Hit Record Highs/Pixabay

Fifth Consecutive Session Sees Nifty 50, Sensex Hit Record Highs

On Thursday, December 28, both the Sensex and the Nifty 50 soared to new heights, marking their fifth consecutive session of gains amid diverse global market cues.

A robust buying spree among investors showcased India’s burgeoning economic growth. Moreover, the anticipation of US rate cuts stimulated increased foreign investments, leading to the dollar’s decline against other currencies, further fueling market optimism.

The Nifty 50 initiated trading at 21,715, surpassing its previous close of 21,654.75, hitting a fresh record peak of 21,801.45 in the session, closing 124 points higher at 21,778.70, marking a 0.57 per cent surge.

Starting at 72,262.67 against the prior close of 72,038.43, the Sensex achieved an all-time high of 72,484.34 during the session, concluding with a gain of 372 points at 72,410.38, a 0.52 per cent increase.

The BSE Midcap index also soared to a record high of 36,556.64 before ending 0.66 per cent higher at 36,528.19.

Simultaneously, the BSE Smallcap index rose by 0.23 per cent to close at 42,382.30.

Approximately 360 stocks, including Larsen & Toubro, Mahindra and Mahindra, Tata Motors, Titan, Wipro, UltraTech Cement, Power Grid, NTPC, JSW Steel, Nestle, and IndusInd Bank, marked their fresh 52-week highs in intraday trade.

The collective market capitalisation of BSE-listed firms increased to about ₹363 lakh crore from nearly ₹361.3 lakh crore in the previous session, boosting investors’ wealth by approximately ₹1.7 lakh crore in a single trading session.

Among the Nifty 50 constituents that concluded higher, Coal India (up 4.21 per cent), NTPC (up 3.07 per cent), and Mahindra and Mahindra (up 2.79 per cent) led the gains. Conversely, Adani Enterprises (down 0.93 per cent), Larsen & Toubro (down 0.59 per cent), and Eicher Motors (down 0.59 per cent) ended as the top decliners among the 13 stocks in the Nifty 50 index that concluded lower today. HCL Technologies finished the day without change.

VoM News Desk

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