Stock market today: Nifty 50, Sensex close at fresh peaks
The domestic market benchmarks ended higher for the fifth consecutive session
The domestic market benchmarks ended higher for the fifth consecutive session
Key equity indices the Sensex and the Nifty 50 ended with gains for the second consecutive session on Friday
Mounting geopolitical tensions are weighing on market sentiment as the hopes of rate cuts taper off
Domestic market sentiment has been broadly positive lately on healthy macroeconomic prints
Market observers attributed the crash to profit booking and view the correction as long overdue over stretched valuation of mid- and small-cap stocks
The 30-share BSE Sensex ended higher by 929.60 points or 1.34% at 70,514.20 level while the Nifty 50 closed at 21,182.70 level, up 256.35 points or 1.23%
Shares of NTPC Ltd (up 3.78%), Adani Ports and Special Economic Zone Ltd (up 3.08%), Hero MotoCorp Ltd (up 2.88%), Power Grid Corporation of Ltd (up 2.31%) and Eicher Motors Ltd (up 2.13%) ended as top gainers. On the other side, TCS Ltd (down 2.05%), Infosys Ltd (down 1.77%), HDFC Life Insurance Co Ltd (down 1.32 %), Axis Bank Ltd (down 1.25%), and UltraTech Cement Ltd (down 1.16%) were among the laggards
This raised expectations that the central bank won't hinder growth and might lower interest rates if needed
Nifty 50 today opened at 20,932.40 against the previous close of 20,937.70 and touched its intraday high and low of 20,941.25 and 20,850.80 respectively