Stock market news | Image:Republic World
Stock market news: Indian benchmarks ended Wednesday on a bullish note ahead of the release of crucial US inflation data led by gains in metal stocks on expectations of strong global demand.
The blue-chip NSE Nifty 50 surged 104.4 points to a record-high close of 22,747.15 and the 30-share BSE Sensex rose 354.45 points to end at 75,038.15.
Suman Bannerjee, CIO, Hedonova, said, “The benchmark index Sensex reached a historic milestone, surpassing the 75,000 level for the first time. The Sensex has gained the last 5,000 points from 70,000 to 75,000 in less than 80 sessions, or under four months, since crossing the 70,000 mark on December 14, 2023.”
“This upward trajectory has been underpinned by robust sectors such as capital goods, automobiles, banking, and metals. Notably, the increasing participation of retail investors has helped mitigate the risk of a market crash, even in the face of potential foreign capital outflows due to delays or modest rate cuts by the Fed. However, investors should exercise caution and adhere to long-term investment strategies amidst this historic market milestone,” Bannerjee added.
