 "Sensex jumped 359.51 points to hit a new record high of 82,725.28 during the early trade on Monday. Source: PTI.")
The Indian benchmark equity indices – BSE Sensex and Nifty 50 – hit their fresh all-time high levels in early trade on Monday, September 2.
The 30-share BSE Sensex jumped 359.51 points to hit a new record high of 82,725.28 during the early trade. Meanwhile, the NSE Nifty climbed 97.75 points to reach a fresh all-time high of 25,333.65.
At 11:15 am, Sensex was trading at 82,648.60, up 282.83 points or 0.34 per cent, while Nifty was at 25,314.95, 79.05 points or 0.31 per cent higher.
Rallying for the ninth straight session on Friday (August 30), BSE Sensex climbed 231.16 points or 0.28 per cent to settle at an all-time closing high of 82,365.77.
In its best winning streak since its launch in 1996, the NSE Nifty soared 83.95 points or 0.33 per cent to hit a new lifetime closing high of 25,235.90, taking its victorious run to the 12th day in a row.
7 points of Indian stock market’s best winning streak in decades
1 - Sensex and Nifty were trading up, tracking foreign fund inflows and a rally in the US markets.
2 - Equity markets have been continuously rallying amid the US rate cut hopes gathering momentum and renewed foreign fund inflows.
3 - The market sentiments are upbeat with Foreign Institutional Investors (FIIs) turning buyers. As per the exchange data, FIIs bought equities worth Rs 5,318.14 crore on Friday.
Impact Shorts
More Shorts4 - The Indian share market was up tracking upward trend in Wall Street stocks. The Dow scored a second consecutive all-time closing high on Friday.
5 - Investors are keeping a keen eye on US jobs report that could decide whether a rate cut expected this month will be regular or super-sized.
6 - The Indian stock markets are touching a fresh high on hopes of an imminent US interest rate cut this month.
7 - Oil prices also continued to decline on Monday as investors weighed the impact of higher OPEC+ production from October against a significant drop in output from Libya as well as sluggish demand in China and the US, who are the world’s two largest oil consumers.
On Monday, among the 30 Sensex firms, Bajaj Finserv, HCL Tech, ITC, Tech Mahindra, Infosys and Asian Paints were the biggest gainers.
With inputs from agencies.