In New Delhi [India], Indian markets continued their bull run on Thursday with both benchmark indices, Nifty and Sensex, breaking records and hitting new highs.
Nifty closed at a record 24,044 points, rising over 0.74 per cent or 175 points. The BSE Sensex also closed at an all-time high of 79,243.18, gaining over 0.72 per cent or 568.93 points.
During Thursday's session, both the indices crossed important milestones, the Nifty index crossed the 24,000 mark, while the Sensex crossed the 79,000 mark.
"The Nifty continued to rise as the bulls took the index to a new all-time high. The Nifty hit new all-time highs for the last three consecutive sessions, showing signs of resilience amid the global sluggishness. The trend remains positive in the short term. term or until it falls below 23,800. At the upper end, the index could move towards 24,200," said Rupak De, senior technical analyst at LKP Securities.
Notably, the Nifty 50 achieved its second-fastest rally of 1,000 points, taking just 23 trading sessions to go from 23,000 to 24,000. Among the top gainers in the Nifty 50 were Ultratech Cements, LTIMindtree, NTPC, Grasim Industries and Wipro, while Shriram Finance, L&T, Divi's Lab, Bajaj Auto and Eicher Motors saw a decline.
In the broader market, BSE MidCap and SmallCap indices faced minor losses of 0.1 per cent and 0.6 per cent, respectively. At the sectoral level, Nifty IT led the gains with a rise of 1.5 per cent, followed by Private Banking and Financial Services indices, both with a rise of 0.4 per cent.
Meanwhile, global markets saw stability in oil prices despite concerns over rising US stockpiles and geopolitical tensions in the Middle East. In the commodities market, spot gold continued its slide on inflation concerns and hawkish comments from the Federal Reserve, closing at $2,299, down 0.87 percent. The 10-year US Treasury yield rose more than 2 percent to 4.33 percent, while the US dollar index strengthened to 106, up 0.42 percent.
Nifty closed at a record 24,044 points, rising over 0.74 per cent or 175 points. The BSE Sensex also closed at an all-time high of 79,243.18, gaining over 0.72 per cent or 568.93 points.
During Thursday's session, both the indices crossed important milestones, the Nifty index crossed the 24,000 mark, while the Sensex crossed the 79,000 mark.
"The Nifty continued to rise as the bulls took the index to a new all-time high. The Nifty hit new all-time highs for the last three consecutive sessions, showing signs of resilience amid the global sluggishness. The trend remains positive in the short term. term or until it falls below 23,800. At the upper end, the index could move towards 24,200," said Rupak De, senior technical analyst at LKP Securities.
Notably, the Nifty 50 achieved its second-fastest rally of 1,000 points, taking just 23 trading sessions to go from 23,000 to 24,000. Among the top gainers in the Nifty 50 were Ultratech Cements, LTIMindtree, NTPC, Grasim Industries and Wipro, while Shriram Finance, L&T, Divi's Lab, Bajaj Auto and Eicher Motors saw a decline.
In the broader market, BSE MidCap and SmallCap indices faced minor losses of 0.1 per cent and 0.6 per cent, respectively. At the sectoral level, Nifty IT led the gains with a rise of 1.5 per cent, followed by Private Banking and Financial Services indices, both with a rise of 0.4 per cent.
Meanwhile, global markets saw stability in oil prices despite concerns over rising US stockpiles and geopolitical tensions in the Middle East. In the commodities market, spot gold continued its slide on inflation concerns and hawkish comments from the Federal Reserve, closing at $2,299, down 0.87 percent. The 10-year US Treasury yield rose more than 2 percent to 4.33 percent, while the US dollar index strengthened to 106, up 0.42 percent.
