In a financial rollercoaster, Sensex just smashed through 73,000, and Nifty soared past 22,000, both setting new all-time highs.
Power Players Leading the Charge: Reliance and IT Giants Steal the Show
The surge was no small feat, majorly powered by big shots like Reliance Industries Limited (RIL), Infosys, and TCS, taking the indices to unprecedented levels.
- Sensex Skyrockets: Closing at an Astounding 73,328 Points
Sensex stole the spotlight, gaining a whopping 759 points, concluding the day at an all-time high of 73,328. Meanwhile, Nifty added 203 points, reaching an unprecedented 22,097.
Reliance Industries’ Remarkable Streak Continues: Market Cap Nearing Rs 19 Lakh Crore
Reliance Industries not only closed at a record high but extended its winning streak for the fourth session. Its market cap is on the verge of hitting Rs 19 lakh crore, significantly boosting the overall market cap to a historic Rs 376 lakh crore.
BSE’s Phenomenal Day: Rs 3 Lakh Crore Added in Market Cap
On the BSE front, listed companies collectively added a staggering Rs 3 lakh crore to the market cap in a single day. The January rally has been impressive, with a cumulative addition of Rs 12 lakh crore in market cap this month alone.
Market Movers: HDFC Bank and IT Giants Take Center Stage
HDFC Bank and IT giants like Infosys and TCS played pivotal roles in steering the indices to new highs. Their contributions were instrumental in the overall market’s robust performance.
IT Earnings on Fire: Wipro and HCL Technologies Shine Bright
On the earnings front, Wipro and HCL Technologies stood out. Wipro’s shares surged up to 10% following better-than-expected Q3 results, while HCL Technologies hit a record high. Infosys and TCS also hit 52-week highs, building on their gains from the previous Friday.
Mixed Fortunes: HDFC Life Faces Losses, Dixon Technologies Slips
Despite the bullish trend, HDFC Life faced losses, extending cuts from Friday due to muted earnings. Meanwhile, Dixon Technologies slipped 3% following a negative brokerage note.
Market Buzz: Metropolis Healthcare Bounces Back, Oracle Financial Services Surges
Amid the buzz, Metropolis Healthcare made a 3% recovery, thanks to a clarification on the Mohalla Clinic issue. On the flip side, HCL Technologies’ robust Q3 performance impacted Oracle Financial Services positively, causing its stock to surge by 9% and reach a record high.
The Market Pulse: Balanced Movement Indicates Robust Bullish Sentiment
The market breadth remained neutral, with an advance-decline ratio at 1:1, reflecting a balanced movement among stocks. This broad-based participation in the market rally suggests a robust and sustainable bullish sentiment.
Indian Stocks Set for New Records: Key Players Drive the Rally
As the Indian stock market continues its record-breaking spree, investors are eagerly watching for any developments that might impact the trajectory in the coming days. With key players like Reliance Industries, Infosys, and HDFC Bank driving the rally, the market seems poised for further exploration.
This unprecedented market performance signifies not only the resilience but also the exuberance in the Indian financial landscape. The stage is set, and the players are in position as the market charts new territories, leaving investors and analysts alike on the edge of their seats.