With the current surge of the Indian stock market, Nifty has touched its lifetime high at 21,600 points. During the first three hours of the markets opening, the Nifty index crossed the historic mark, settling at 21,603 points.
Nifty gained over 134 points on Wednesday, taking it over the 21,600 mark and inching it closer to a new high - 22,000 points. Meanwhile, the surge of Nifty is being credited to top gainers like Tata Motors, Bajaj Auto and UltraTech.
Both Nifty and Sensex are on a high today amid multiple initial public offerings (IPO) listings on Wednesday, with Happy Forgings taking the cake with its share price crossing ₹1,000 on BSE and NSE on its listing day.
The NSE Nifty was up nearly 150 points. High-beta Nifty Bank was also up by nearly 370 points. The rise in the Nifty index today is owed to its multibaggers - Tata Motors, Bajaj Auto, UltraTech and others.
Nifty achieves record high: Top gainers
Hindalco is the top gainer on Nifty index today, with its share price at ₹603 at its highest recording a nearly 4 percent hike. Second and third on the list are UltraTech and Tata Motors, recording a spike of 3.09 and 2.35 percent respectively.
{{/usCountry}}Hindalco is the top gainer on Nifty index today, with its share price at ₹603 at its highest recording a nearly 4 percent hike. Second and third on the list are UltraTech and Tata Motors, recording a spike of 3.09 and 2.35 percent respectively.
{{/usCountry}}Other gainers on the Nifty index include Bharti Airtel, Bajaj Auto, JSW Steel and IndusInd Bank, all gaining more than 1.5 percent in the early hours of the market opening. It is expected that these prices will go higher before the markets close.
Nifty, Sensex set to rise by 10 percent in 2024
It is expected that the Nifty index and benchmark Sensex will be rising by almost 8 to 10 percent in the early months of 2024, hitting a new lifetime high soon, market analysts quoted by PTI said.
While the markets remain volatile right now, the 2024 Lok Sabha elections can have a major impact on the stock market, as well as majorly awaited IPOs such as FirstCry, Ola Electric and Swiggy.
These predictions were made after Nifty and Sensex hit their lifetime highs by crossing the 21,000 and 71,000 mark earlier this month after the results of the assembly elections in five states were declared.