A sub-broker makes flower offerings before the statue of a bull outside the Bombay Stock Exchange in Mumbai. File photo
| Photo Credit: The Hindu
Benchmark equity indices Sensex and Nifty hit their new lifetime peaks in early trade on Wednesday, June 19, 2024, amid a firm global market trends, buying in bank stocks and foreign fund inflows.
The bullish trend in early trade comes a day after the Fitch Ratings raised India’s growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.
Rallying for the fifth straight session, the 30-share BSE Sensex climbed 280.32 points to hit its fresh lifetime peak of 77,581.46 during the early trade. The NSE Nifty went up by 72.95 points to hit a new record high of 23,630.85.
Among the 30 Sensex companies, IndusInd Bank, ICICI Bank, JSW Steel, Axis Bank, Kotak Mahindra Bank, Infosys, Tata Consultancy Services and HDFC Bank were the biggest gainers.
Titan, NTPC, Power Grid and Bajaj Finance were among the laggards.
In Asian markets, Seoul, Tokyo and Hong Kong were trading higher while Shanghai quoted lower.
US markets ended in the positive territory on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth ₹2,569.40 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.01 per cent to USD 85.34 a barrel.
Fitch Ratings on Tuesday raised India’s growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.
Sunil Garnayak is an expert in Indian news with extensive knowledge of the nation’s political, social, and economic landscape and international relations. With years of experience in journalism, Sunil delivers in-depth analysis and accurate reporting that keeps readers informed about the latest developments in India. His commitment to factual accuracy and nuanced storytelling ensures that his articles provide valuable insights into the country’s most pressing issues.
