The Indian equity markets closed at record highs on April 8, with both the Nifty and the Sensex reaching significant milestones.
The NSE Nifty 50 soared above the 22,650 mark, while the BSE Sensex surged by an impressive 495 points, fueling investor optimism and confidence in the market.
The positive momentum was evident throughout the trading session as both benchmark indices opened higher and sustained their gains, setting new records.
Global market cues coupled with a rally in large-cap auto stocks and key index heavyweights such as Reliance Industries contributed to the buoyant atmosphere in the market.
At the closing bell, the Sensex was up by 494.28 points or 0.67 percent, settling at 74,742.50, while the Nifty 50 surged by 152.60 points or 0.68 percent to reach 22,666.30.
Leading the charge among Nifty gainers were prominent names such as Mahindra & Mahindra, Eicher Motors, Maruti Suzuki, and Reliance Industries. Whereas some stocks experienced losses, including Wipro, LTIMindtree, Adani Ports, Nestle India, and Apollo Hospitals.
The banking sector also witnessed a notable surge, with the Nifty Bank index crossing the 48,700-mark for the first time. This surge was largely attributed to renewed investor optimism driven by expectations of political stability ahead of the upcoming Lok Sabha Elections in 2024.
In terms of sectoral performance, auto, energy, infrastructure, metal, and realty sectors emerged as the top gainers, with gains ranging between 1 to 2 percent.
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