Adversitement
BSE Sensex Achieves Record High, Surging Over 1300 Points; Nifty Crosses 20,600 Mark as Dalal Street Celebrates BJP's Election Triumphs
Published On : 2023-12-05T17:42:24+0530 [ IST ] |
Author : Amit_Rahangdale
Home
BSE Sensex Achieves Record High, Surging Over 1300 Points; Nifty Crosses 20,600 Mark as Dalal Street Celebrates BJP's Election Triumphs
India :
BSE Sensex surged over 1,300 points on Monday to a lifetime high of 68,865, up over 2% in trade today. Niftyso too scaled new highs of 20,686.80, up over 400 points or 2.07%.
The Dalal Street was bolstered by the Bharatiya Janata Party's massive victories in state elections ahead of the 2024 Lok Sabha polls and the Indian equity markets cheered prospects of a stable Narendra Modi government returning to power in the 2024 general elections. Indian shares surged to record highs driven by financial and energy stocks, propelled by BJ's victories in state elections.
Strong macroeconomic data and global interest rate relief also contributed to the market's rise, marking the benchmarks' most significant session in 14 months. Overbought levels were reached as both indexes soared. On Monday, i out of i3 major sectors hit all-time highs, notably with financial services surging by 3.23% and energy stocks climbing by 2.61%. These sectors collectively hold a weightage of about 46.5% in the Nifty 50 index. Index heavyweights such as Reliance Industries, ICICI Bank, and HDFC
Bank recorded gains ranging from 1% to 5%.
Source : The Times Of India
Tags : BJP , 600 , BSE Sensex , All-Time High , Dalal Street , Election Victories , Nifty , Surge ,
Summary : Dalal Street witnesses a remarkable surge as the BSE Sensex concludes at an all-time high, marking a staggering increase of over 1300 points. The Nifty index follows suit, surpassing the significant milestone of 20,600. Investor optimism soars in response to the BJP's notable successes in recent elections, contributing to the buoyant atmosphere on the financial markets.
Adversitement