Indian Markets Soar to Record Highs: Unprecedented Growth Fueled by Positive Global Cues
The Indian stock market achieved new record highs in the Budget week ending July 26, propelled by favorable global cues, including unexpectedly strong US GDP figures hinting at a possible early rate cut by the US Federal Reserve. The session witnessed significant volatility owing to the F&O expiry, Union Budget announcements, and mixed corporate earnings.
During the week, the BSE Sensex climbed 728 points, marking a 0.90 percent increase, while the Nifty50 index gained 303 points, up by 1.2 percent. On July 26, the Nifty50 reached a historic peak of 24,861, and the BSE Sensex closely approached its all-time high at 81,587.
Sector performance was robust, with the BSE Small-cap index surging by 3.5 percent, the BSE Mid-cap index rising by 3 percent, and the BSE Large-cap index advancing by 1.5 percent. In terms of individual market value, Tata Motors led the gains, followed by Infosys, ITC, and Sun Pharmaceutical Industries. Contrarily, Reliance Industries, Axis Bank, and ICICI Bank experienced notable declines in market capitalization.
Original Story https://www.newsonair.gov.in/indian-markets-hit-record-highs-amid-positive-global-cues/
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