Synopsis: The Indian stock markets saw a remarkable surge on Thursday, with Sensex and Nifty hitting record highs. All 30 stocks in the Sensex were trading in the green, with NTPC, Tech Mahindra, TCS, Tata Motors, and Infosys leading the gains. Investors gained Rs. 3.1 lakh crore as the market capitalization of BSE-listed firms reached Rs. 470.82 lakh crore.
Indian stock markets soared on Thursday, driven by the US Federal Reserve’s announcement of a 50 basis points rate cut.
The Sensex surged by 575 points to touch 83,521, while the Nifty climbed 163 points to reach 25,540 in early trades.
Both indices also achieved their record highs during the day, with Sensex hitting 83,563 and Nifty touching 25,559.
Broad-Based Rally Across Sensex Stocks:
All 30 Sensex stocks were trading in positive territory, reflecting a broad-based market rally.
NTPC, Tech Mahindra, TCS, Tata Motors, and Infosys emerged as the top gainers, with gains of up to 2.19% in early deals.
This widespread green performance reflects investor confidence in the market, bolstered by favorable economic conditions and global cues.
Significant Gains for Investors:
The market capitalization of BSE-listed companies saw a substantial rise of Rs. 3.1 lakh crore, bringing the total market cap to Rs. 470.82 lakh crore, up from Rs. 467.72 lakh crore on Wednesday.
This remarkable surge underscores the robust buying interest among investors.
125 Stocks Hit 52-Week Highs:
In today’s session, 125 stocks on the BSE reached their 52-week highs, highlighting the broad strength of the market.
However, it wasn't all positive news as 20 shares also hit their 52-week lows, reflecting some pockets of weakness.
Strong Market Breadth:
Out of the 3,084 stocks traded, 2,103 were in the green, showing that the market breadth remained strongly positive.
Conversely, 851 stocks traded in the red, while 130 remained unchanged, offering a mixed outlook in individual stock performances.
Sectoral Performance: Capital Goods, IT, and Oil & Gas Lead the Charge:
The rally was led by major sectors like capital goods, IT, oil & gas, and consumer durables.
The BSE consumer durables index surged 698 points, while banking and auto sectors followed closely with gains of 489 and 554 points, respectively.
All 19 BSE sectoral indices were trading higher, adding momentum to the overall market strength.
Upper Circuits Outpace Lower Circuits:
During the early morning session, 129 stocks hit their upper circuit limits, outnumbering the 49 stocks that touched their lower circuits.
This indicates stronger buying pressure and positive sentiment in the market.
Institutional Investors' Activity:
Foreign institutional investors (FIIs) remained net buyers, infusing Rs. 1,153.69 crore into the market on Wednesday.
Domestic institutional investors (DIIs) also participated actively, purchasing shares worth Rs. 152.31 crore.
This consistent buying interest from both FIIs and DIIs further solidified market confidence.
Previous Trading Session Recap:
On Tuesday, the benchmark indices had closed lower after shedding significant gains.
The Sensex ended 131 points lower at 82,948, while the Nifty fell by 41 points to close at 25,377.
The recovery in Thursday's session highlights the market's resilience in the face of short-term volatility.
In conclusion, the stock markets witnessed a powerful rally, with Sensex and Nifty reaching new highs following the US Federal Reserve’s rate cut.
The broad-based buying across sectors, coupled with significant institutional investments, signals strong market sentiment.
Despite some stocks hitting 52-week lows and lower circuits, the overall market momentum remains positive.
Investors have reaped significant gains in this bullish environment, but as always, caution is advised given the dynamic nature of the markets.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors are advised to conduct their own research or consult with a qualified financial advisor before making any investment decisions.
