BSE Sensex has touched 80,000 mark on Wednesday’s early trade. Sensex traded at 79,983.23, higher by 541.78 pts or 0.68 per cent as at 10.32 a.m, and Nifty 50 traded at 24,277.20, up by 153.35 pts or 0.64 per cent.
The 30-share BSE Sensex jumped 597.77 points to hit a new lifetime high of 80,039.22. Nifty climbed 168.3 points to hit a fresh record peak of 24,292.15.
Shrikant Chouhan, Head Equity Research, Kotak Securities, said, “Sensex crossing the 80000 mark is a big achievement for the Indian stock market. 16 years ago it was at 8800 on the day when Lehman, the leading bank in the US markets, crashed. Nine times returns in 16 years. However, four years ago during the time of Covid it was at 26000, which seems unrealistic but it is true. It gives confidence that equity markets did perform well in the long run, we need patience and confidence while investing and even after it. Based on the current domestic macros, our advice is to continue investing systematically in equities with a long term perspective.”
All sectoral indices except IT, oil & gas, traded positive. Nifty private bank rose 2.18% to trade at 26,545.70, and Nifty Bank was up 2.02 per cent at 53,223.95.
Federal Bank (4.34 per cent), HDFC Bank (3.15%), and ICICI Lombard General Insurance (1.61 per cent) featured among major stocks that hit a 52-week high on the NSE today.
The major gainers on the NSE as at 10.27 am were HDFC Bank (3.27 per cent), Axis Bank (1.89 per cent), Tata Consumer Products (1.63 per cent), Britannia (1.43 per cent), and ICICI Bank (1.35 per cent). While, TCS (-1.23 per cent), Reliance (-0.76 per cent), Hindalco (-0.67 per cent), Tata Motors (-0.55 per cent), and HCL Technologies (-0.48 per cent) were major losers.
On the BSE, a total of 3,750 stocks were traded of which 2,352 advanced, 1,231 declined and 167 remained unchanged. The number of stocks that hit a 52-week high were at 272 and those that hit a 52-week low were 13.
In addition, 286 stocks hit the upper circuit, and 139 hit the lower circuit.
