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Sensex, Nifty reach new highs today

On the Sensex, Powergrid, NTPC, SBI, Tata Motors, Axis Bank, and Ultratech Cement led the gains, whereas TCS, Wipro, Infosys, and Tech Mahindra were among the top losers. For Nifty50, Cipla and Adani Ports were among the top five gainers, while LTIMindtree was among the top losers.

News Arena Network - Mumbai - UPDATED: June 9, 2024, 09:09 PM - 2 mins read

Sensex, Nifty reach new highs today

Indian stock markets opened in the green on Monday morning, with benchmarks BSE Sensex and Nifty50 reaching record highs. The BSE Sensex surged 238.62 points to 76,931.98 while the Nifty50 climbed to 23,374.55.

Markets in the Asia-Pacific region showed a mixed trend on Monday, following a strong US jobs report last Friday that indicated an increase in hiring and wage growth in May. This suggests the Federal Reserve is not in a hurry to reduce interest rates.

Traders anticipate that the Federal Open Market Committee will refrain from cutting rates in its upcoming meeting this week or the following one in July.

Japan's Nikkei 225 rose by 0.47%, while the broader Topix index increased by 0.68%. Conversely, South Korea's Kospi fell by 0.90%, and the small-cap Kosdaq slipped by 0.42%.

Several Asian markets, including Australia, mainland China, Hong Kong, and Taiwan, were closed for a holiday on Monday.

Analysts note that the US Federal Reserve's interest rate decision, domestic inflation data, and global trends will be key factors influencing market movements this week.

With the Lok Sabha election results and the RBI policy decision now behind, these elements will play a crucial role in dictating market direction.

Related Tags:#Sensex #Nifty #Stock Market

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Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined.

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