On Wednesday morning, Indian equity markets achieved fresh record highs with the BSE Sensex and NSE Nifty reaching new peaks. This surge was fueled by strong buying activity in major blue-chip stocks such as HDFC Bank and ICICI Bank, coupled with an influx of foreign funds.
The Sensex, which tracks the performance of 30 leading companies listed on the Bombay Stock Exchange (BSE), climbed 230.66 points, setting a new all-time high of 83,310.32. This was a significant recovery from earlier losses, showcasing the market's resilience and positive investor sentiment.
Similarly, the NSE Nifty, which represents 50 large companies on the National Stock Exchange (NSE), advanced by 60.05 points to reach a record level of 25,478.60. This milestone reflects the broader strength of the Indian equity market and its ongoing bullish trend.
Among the top performers contributing to this record-setting day were Bajaj Finance, Larsen & Toubro, HDFC Bank, Mahindra & Mahindra, Bajaj Finserv, Nestle, ITC, and ICICI Bank. These companies showed impressive gains, driving the indices higher.
However, some tech stocks such as Tech Mahindra, Infosys, Tata Consultancy Services, and HCL Technologies lagged behind, impacting the broader market performance.
In the global context, Asian markets saw positive movements with Tokyo and Shanghai trading higher. Conversely, the U.S. markets had a mixed performance on Tuesday, reflecting a cautious stance ahead of key economic events.
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that global markets were in a wait-and-watch mode due to the upcoming Federal Reserve rate decision. The market’s focus was not just on the rate decision itself but also on the Fed’s commentary and future guidance.
On the foreign investment front, Foreign Institutional Investors (FIIs) showed renewed interest, purchasing equities worth ₹482.69 crore. This buying spree contributed to the market’s upward momentum, indicating strong confidence from international investors.
The global oil benchmark, Brent crude, saw a slight decline of 0.71%, settling at $73.18 per barrel. This decrease in oil prices had a minimal impact on the equity markets but is an important factor to watch for potential future developments.
The Sensex and Nifty's record highs were part of a continued upward trend. The previous day had also seen the Sensex rise by 90.88 points, or 0.11%, closing at an all-time high of 83,079.66. Similarly, the Nifty had increased by 34.80 points, or 0.14%, ending at a new peak of 25,418.55.
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