Sensex Soars Over 1,150 Points, Nifty Crosses 24,750; Investor Wealth Rises by Rs 7.07 Lakh Crore

Synopsis: On Friday, the Indian stock markets saw a remarkable rise, with the BSE Sensex gaining 1,171 points and the NSE Nifty climbing 374 points, closing at 81,211 and 24,780, respectively. This surge, led by IT, metal, and pharma stocks, increased investor wealth by Rs 7.07 lakh crore. Key stocks like Infosys, Reliance Industries, and TCS were significant contributors to this growth.

The Indian stock market experienced a significant surge on Friday, driven by robust performances in IT, metals, and pharma sectors. The BSE Sensex climbed 1,171 points, or 1.46%, closing at 81,211. Concurrently, the NSE Nifty gained 374 points, or 1.53%, ending the session at 24,780. This rally resulted in a substantial increase in investor wealth, with the BSE market capitalization growing by Rs 7.07 lakh crore, reaching a total of Rs 456.90 lakh crore.

Key contributors to the market's upward momentum included major companies such as Infosys, Bharti Airtel, Reliance Industries, Tata Consultancy Services (TCS), and Kotak Mahindra Bank. These heavyweights played a pivotal role in lifting the indices to new heights.

Key Highlights:

Investor Wealth Surge: The BSE market capitalization increased by Rs 7.07 lakh crore, bringing the total to Rs 456.90 lakh crore, compared to Rs 449.82 lakh crore in the previous session.

Record Highs: A total of 295 stocks reached their 52-week high levels, including prominent names like Affle (India), Alembic Pharma, Ashok Leyland, and Biocon. Conversely, 14 stocks hit their one-year lows.

Market Breadth: Out of 3,971 stocks traded on the BSE, 2,725 advanced, 1,124 declined, and 122 remained unchanged, indicating broad-based buying interest.

Significant Gainers: Stocks such as The New India Assurance Company (NIACL), General Insurance Corporation of India (GIC-Re), and Infibeam Avenues saw substantial gains, soaring up to 15%.

Sectoral Performance:

The rally was led by substantial gains in IT, metals, and pharmaceutical stocks. Companies in these sectors contributed significantly to the overall market strength.

Market Sentiment:

Positive global cues and a strong performance by domestic heavyweights fueled the market's ascent. The rally was further supported by expectations of favorable economic policies and earnings growth.

Disclaimer: The information provided in this article is based on market data and analysis available at the time of writing. Market conditions are subject to change, and past performance is not indicative of future results. Investors are advised to conduct their own research and consult with a financial advisor before making any investment decisions. The author and the publication do not hold any responsibility for any financial losses or damages incurred based on the information provided in this article.