Sensex and Nifty Hit Record Highs for Fourth Straight Session on Domestic Optimism Indian equity markets extended their record-setting streak for a fourth consecutive se...
Indian equity markets extended their record-setting streak for a fourth consecutive session on Friday, with benchmark indices closing at fresh all-time highs. The BSE Sensex advanced 181.87 points, or 0.24%, to settle at 76,992.77, while the NSE Nifty 50 index gained 66.70 points, or 0.29%, to end the day at 23,465.60. For the week, the Sensex and Nifty posted gains of 0.39% and 0.75%, respectively.
The sustained upward trajectory was largely fueled by positive domestic economic indicators and anticipation surrounding the upcoming Union Budget. Softer-than-expected inflation data provided significant support to investor sentiment, with moderating trends observed in both consumer and wholesale price indices. Furthermore, forecasts of an above-normal monsoon are raising expectations for a boost in rural demand and a further easing of food inflation, underpinning the market's positive tone.
The rally was not uniform across all sectors, revealing a clear divergence between domestic-focused and externally-facing industries. The Nifty Realty index surged 2.21%, leading the gains. Strong performances were also seen in the Nifty Consumer Durables and Nifty Auto indices, which rose 1.83% and 1.34%, respectively. In stark contrast, the Nifty IT index was the primary laggard, falling 0.88%. This weakness was attributed to persistent concerns over weakening discretionary spending in the United States and project ramp-downs affecting major technology firms.
Participation in the rally extended beyond the blue-chip indices, indicating broad-based investor confidence. The BSE MidCap index climbed 1.15%, and the BSE SmallCap index gained 1.01%. Among individual stocks, Eicher Motors, Adani Ports, and Mahindra & Mahindra were among the top Nifty 50 gainers. Conversely, major IT companies including Tech Mahindra, Tata Consultancy Services, and Wipro populated the list of top losers for the day.
The outlook for the domestic market remains constructive, supported by strong macroeconomic fundamentals. While the information technology sector faces external headwinds, the positive forecast for domestic-facing sectors, driven by favorable monsoon predictions and pro-growth policy expectations from the budget, suggests that the current market rally has a solid foundation built on local economic strength.
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