Tuesday witnessed another historic milestone in the realm of equity indices as both the BSE Sensex and the Nifty soared to unprecedented heights. The BSE Sensex surged past the remarkable 75,000-mark during early trading hours, while the Nifty scaled new peaks, adding to the fervor in the market.
The surge in the IT sector stocks notably fueled the market's ascent in the initial trading session. Among the 30 stocks constituting the BSE Sensex, prominent gainers included Infosys, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Tata Motors, Wipro, ICICI Bank, and Nestle.
However, certain stocks such as JSW Steel, Kotak Mahindra Bank, Reliance Industries, and Larsen & Toubro experienced a dip in performance, trailing behind the overall bullish trend.
In the global arena, Asian markets displayed a mixed picture with Tokyo and Hong Kong registering gains, while Seoul and Shanghai saw a downturn. Meanwhile, Wall Street closed with a mixed sentiment on Monday.
Foreign Institutional Investors (FIIs) were observed offloading equities worth Rs 684.68 crore on Monday, as per exchange data. Moreover, the global oil benchmark Brent crude witnessed a modest increase, reaching USD 90.55 per barrel.
The bullish sentiment prevailing in the market was reaffirmed by the new records set on Tuesday, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. He emphasized the notable outperformance of large-cap stocks, suggesting a continuation of this trend.
On the previous trading day, the BSE benchmark surged 494.28 points or 0.67 percent, culminating at a new closing peak of 74,742.50, while the NSE Nifty climbed 152.60 points or 0.68 percent to 22,666.30. This momentum reflects the optimistic trajectory of the Indian stock market.
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