By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Sensex reaches an all-time high of 83,000, Nifty surpasses 25,400
Share
Notification Show More
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Sensex reaches an all-time high of 83,000, Nifty surpasses 25,400
Business

Sensex reaches an all-time high of 83,000, Nifty surpasses 25,400

News Room
Last updated: 2024/09/12 at 3:53 PM
News Room
Share
3 Min Read
SHARE

The stock market in Mumbai reached a historic milestone on Thursday, as both the Sensex and Nifty closed at record highs. This surge was driven by widespread buying across various sectors, showcasing strong investor confidence and robust market sentiment. The Sensex saw a significant increase of 1,439.55 points, closing at 82,962.71, while the Nifty surged by 395.40 points, ending at 25,313.85. Out of the Nifty50 companies listed, 49 witnessed gains, with only one stock finishing in the red. Top performers such as Hindalco Industries, Bharti Airtel, NTPC, Shriram Finance, and Grasim led the rally with strong gains, while Nestle India was the notable decliner.

In the currency markets, the Indian rupee experienced a slight negative bias due to the strength of the US dollar and an increase in global crude oil prices. Despite these factors, global risk appetite and potential intervention by the Reserve Bank of India (RBI) may lend support to the rupee in the future. The movement of the rupee will be closely monitored as international dynamics evolve. Narendra Solanki from Anand Rathi Shares and Stock Brokers mentioned that positive Asian markets and a tech-fuelled rally on Wall Street contributed to the market’s performance. Additionally, news of China cutting rates by 50 bps on $5 trillion mortgages provided a boost to market sentiment.

Shriram Subramanian from InGovern Research Services highlighted the impact of short covering in the market rally. He mentioned that on the back of China’s rate cut to stimulate its economy, there was significant short covering in the final hour of trading. He cautioned investors to be wary of companies with stretched valuations or questionable financials. Ajit Mishra from Religare Broking Ltd. shared a similar outlook, advising caution while navigating the market wave. He recommended focusing on sectors and themes displaying consistent trends and prioritizing large-cap and major midcap stocks for fresh buying opportunities.

With the stock market reaching historic highs, investor optimism remains strong despite global uncertainties. Experts suggest adopting a strategic approach, emphasizing strong fundamentals and avoiding stocks with overextended valuations. Varun Aggarwal from Profit Idea mentioned that the market is elevated following the Fed rate cut and positive outlook, expecting more bullish momentum in the future. Overall, the market’s performance reflects a positive investor outlook, supported by broad-based buying across various sectors.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 12, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Partnership and Growth Driven by Bahrain and US Strategic Security Agreement
Next Article Is the EU considering cutting the historic Erasmus+ programme?
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Tech

Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World

July 1, 2025
Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessGulfUAE

Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World

May 10, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
Business

NTT DATA Business Solutions Expands Presence in UAE with Stronger Regional Leadership

March 28, 2025

Sustainable Moving Services: How Dubai’s Moving Companies Are Going Green

February 20, 2025
Tech

CNTXT and Oracle Strengthen AI Collaboration to Drive Innovation

February 14, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?