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Stock market today| Sensex, Nifty hit fresh all-time high: Why is stock market gaining today?
Stock market today: Among shares, 2,606 advanced, 417 declined, and 128 were unchanged.
Stock market today: Indian equity benchmark Nifty50 hit a new high of 22,529.95 levels today (April 1), the first trading session on FY2024-25. The index went past its previous record of 22,526.6 while the Sensex was up 567.59 points or 0.77 percent at 74,218.94. The Nifty was up 192.20 points, or 0.86 percent, at 22,519.10. Among shares, 2,606 advanced, 417 declined, and 128 were unchanged.
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Market capitalisation of all listed companies on BSE surged by ₹4.7 lakh crore to ₹391.67 lakh crore.
Stock market today: Who are the biggest gainers so far?
Tata Steel, JSW Steel, Kotak Bank, HDFC Bank and Infosys opened 1-2% higher and were the top Sensex gainers in early trade. Other stocks that registered gains were Bajaj Finserv, L&T, HCL Tech and Tata Motors. Hindustan Aeronautics rose 3.4% in early trade and RVNL shares opened 5% higher.
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On the sectoral front, Nifty Bank, Financial Services, Media, Realty, and Consumer Durables opened over 1% higher while Nifty Oil & Gas, IT, Healthcare, Pharma, and Auto surged around 0.9%. In the broader market, Nifty Midcap100 surged 1.3% and Nifty Smallcap100 rose 2%.
Is the rally because of global markets?
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In the global markets, Chinese shares led a rally around most of Asia although Japanese shares tumbled. US stock also pointed firmly higher following a market holiday on Friday as Federal Reserve released data showing their preferred inflation measure indicated price pressures are further easing. This means that there could be an interest rate cut in June, experts said.
US Fed Governor Christopher Waller said that there is no rush to lower interest rates and he wishes to see “at least a couple months of better inflation data” before cutting.
