Indian Stock Market Hits Fresh Closing Highs Amid Positive Global Cues

Indian Stock Market Hits Fresh Closing Highs Amid Positive Global Cues/Pixabay

VoM News Desk | April 8, 2024 | 04:53 PM IST | Breaking News | Follow on Google News

Indian Stock Market Hits Fresh Closing Highs Amid Positive Global Cues

Indian Stock Market Hits Fresh Closing Highs Amid Positive Global Cues

Indian stock market benchmarks, the Sensex and the Nifty 50, closed at fresh record highs on Monday, April 8, buoyed by positive global cues and easing crude oil prices.

The Sensex opened at 74,555.44 and touched an all-time high of 74,869.30 during the session before closing 494 points higher at 74,742.50. Similarly, the Nifty 50 opened at 22,578.35, reached a fresh record high of 22,697.30, and closed at 22,666.30, up 153 points.

Major European markets traded with gains while US bond yields hit their highest since late November. However, geopolitical tensions in West Asia and uncertainty surrounding Fed rate cuts have kept the market volatile.

The overall market capitalization of BSE-listed firms crossed the ₹400 lakh crore mark for the first time.

Sector-wise, barring Nifty PSU Bank, Media, and IT, all indices ended higher. Nifty Auto led the gains followed by Oil & Gas, Realty, and Metal sectors.

Top gainers in the Nifty 50 index included Eicher Motors, Mahindra and Mahindra, and Maruti Suzuki, while Adani Ports, Nestle, and Apollo Hospitals were among the top losers.

Looking ahead, investors are monitoring US CPI data, ECB policy, and UK GDP data, while technically, Nifty might consolidate within a range with support at 22,500.

Source: Mint

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