Record-Breaking Day for Indian Stocks IT stocks, Sensex, Nifty surge to lifetime High

In an epic rally, Indian stocks soared to unprecedented heights on January 12, thanks to the stellar show of IT giants Infosys and TCS. The Nifty 50 and Sensex, along with mid and small-cap indices, hit all-time highs, fueled by the fantastic December quarter earnings of these IT powerhouses.

The real heroes of this surge? Infosys and TCS. Infosys saw a remarkable 8% jump, while TCS rose by 4%, setting the tone for the entire IT sector. The Nifty IT index, driven by this positive momentum, closed more than 5% higher, with all its 10 components ending the day in green.

The Sensex hit an all-time high of 72,720.96, ending the day with a robust gain of 847 points, a whopping 1.18%, at 72,568.45. Similarly, the Nifty 50 reached a record high of 21,928.25, closing at 21,894.55, marking a significant jump of 247 points, or 1.14%. Both indices settled at fresh closing peaks.

Infosys and TCS took center stage, collectively contributing nearly 500 points to the overall gains in the Sensex index. These two giants emerged as the driving force behind this historic market rally.

The BSE Midcap index hit a fresh record high of 37,941.29, closing at 37,875.43, up 0.36%. The BSE Smallcap index closed at 44,503.70, with a gain of 0.41%, reaching its all-time high of 44,644.04 during the session.

Investors’ wealth witnessed a substantial surge, with the overall market capitalization of BSE-listed firms increasing to nearly Rs 373.4 lakh crore from almost Rs 370.5 lakh crore in the previous session. Investors found themselves richer by about Rs 2.9 lakh crore in a single session.

In a stunning turn of events, 539 stocks, including major players like Reliance Industries, HCL Tech, Bharti Airtel, IndusInd Bank, Tata Motors, Hero MotoCorp, Persistent Systems, and ONGC, hit their fresh 52-week highs in intraday trade on BSE.

Despite the Indian market’s positive trajectory, European markets also experienced an upward trend, fueled by hopes that the US Federal Reserve would initiate interest rate cuts soon, even with hotter-than-expected US December inflation data.

In conclusion, it was a day of records, with IT giants leading the charge and investors reaping the rewards. The market’s optimistic sentiment was palpable, setting the stage for potential future developments.