Indian Markets Reach New Highs

On Thursday, Indian markets continued their upward trend with both Nifty and Sensex breaking records. Nifty closed at a record high of 24,044 points, gaining 0.74%, while Sensex closed at 79,243.18 points, up by 0.72%.

Key Highlights

• Nifty surpassed the 24,000 mark.
• Sensex crossed the 79,000 mark.
• Top gainers on Nifty 50 included Ultratech Cements, LTIMindtree, NTPC, Grasim Industries, and Wipro.
• Shriram Finance, L&T, Divi’s Lab, Bajaj Auto, and Eicher Motors saw declines.

Market Analysis

Rupak De, Senior Technical Analyst at LKP Securities, noted that Nifty has been making new all-time highs for three consecutive sessions. The index might move towards 24,200 in the short term.

Sector Performance

Nifty IT led the gains with a 1.5% rise, followed by Private Bank and Financial Services indices, both up by 0.4%. The BSE MidCap and SmallCap indices faced minor losses of 0.1% and 0.6%, respectively.

Global Market Trends

Oil prices remained stable despite concerns over US stockpiles and Middle East tensions. Spot gold declined to USD 2,299, down by 0.87%. The ten-year US Treasury yield surged to 4.33%, and the US Dollar Index strengthened to 106, up by 0.42%.