Sensex Reaches Historic High of 80,000 Points: A Big Day for Indian Stock Market

The Indian markets soared to a historic high on Wednesday, with the Sensex nearly reaching the 80,000 mark for the first time. By the end of the trading session, both the Sensex and Nifty 50 achieved new 52-week highs. The Sensex closed at an all-time high of 79,986.80 points, while the Nifty 50 finished at 24,286.50 points, marking its highest closing level to date.

Shrikant Chouhan, Head Equity Research at Kotak Securities, highlighted the significance of this milestone, noting that the Sensex was at 8,800 points 16 years ago when Lehman Brothers crashed. He also mentioned that four years ago during the COVID-19 pandemic, the Sensex was at 26,000 points, showing remarkable growth.

The broader market on the National Stock Exchange also reflected this positive trend, with all indices closing with gains except for Nifty Media. Leading the gains on the Sensex were shares of HDFC Bank, which hit a new high of Rs 1,794, followed by Kotak Bank, Bajaj Finance, Bajaj Finserv, and M&M. However, Tech Mahindra, TCS, Sun Pharma, Infosys, and Bharti Airtel were among the top losers.

On the NSE, Britannia, ICICI Bank, and Axis Bank emerged as the top performers, while Tata Motors and Ultratech Cement faced losses.

Riya Singh, Research Analyst at Emkay Global, warned that rising crude oil prices could pose challenges for the Indian Rupee and inflation targets, potentially leading the Reserve Bank of India to maintain a hawkish stance.