The Indian stock market opened at record highs today, with the S&P BSE Sensex crossing the 76,500 mark for the first time and the NSE Nifty 50 hitting a new high amid the ongoing Lok Sabha elections. The benchmark indices continued their upward momentum, driven by strong gains in financial services and IT stocks.
Sensex and Nifty reach new heights
The S&P BSE Sensex opened at 76,511.45, a fresh record high, and rose further to 76,550.45 by 9:30 a.m. The NSE Nifty 50 also opened at a record high of 22,611.45 and traded at 22,633.45 by the same time, up 0.85% from the previous close.
Sectoral performance
Financial services and IT stocks led the gains, with HDFC Bank Ltd., Reliance Industries Ltd., and ICICI Bank Ltd. being the top gainers. The Nifty Bank index rose 1.35%, while the Nifty IT index gained 1.23%. On the other hand, the Nifty Pharma sector was the top loser, down 0.45%.
Market outlook
The market is expected to remain volatile in the coming days, influenced by the ongoing Lok Sabha elections and global market trends. Analysts suggest that the market may see some consolidation after the recent sharp gains, but the overall trend is expected to remain positive.
Key highlights
- The S&P BSE Sensex opened at a record high of 76,511.45.
- The NSE Nifty 50 opened at a record high of 22,611.45.
- Financial services and IT stocks led the gains.
- HDFC Bank Ltd., Reliance Industries Ltd., and ICICI Bank Ltd. were the top gainers.
- The Nifty Bank index rose 1.35%, while the Nifty IT index gained 1.23%.
- The Nifty Pharma sector was the top loser, down 0.45%.
The Indian stock market opened at record highs today, driven by strong gains in financial services and IT stocks. The S&P BSE Sensex crossed the 76,500 mark for the first time, and the NSE Nifty 50 hit a new high amid the ongoing Lok Sabha elections. While the market may see some consolidation in the coming days, the overall trend is expected to remain positive.
