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Stock market today: BSE Sensex closes above 75,000 for the first time

Published:

Stock market today

:

BSE Sensex

and Nifty50, the

Indian stock market

indices, scaled all time highs in trade on Wednesday. The Indian benchmark equity index

Nifty50

achieved a record high, boosted by banking, energy, and

IT stocks

, ahead of the release of significant

US inflation data

later in the day.
The 30-share BSE benchmark Sensex concluded the trading at 75,038, up by 354 points or 0.47%.

BSE Sensex closed above the 75,000 mark for the first time. Meanwhile, the broader NSE Nifty ended at 22,754, gaining 111 points or 0.49%.
Simultaneously, the combined market value of all listed entities on the Bombay Stock Exchange (BSE) climbed by Rs 2.26 lakh crore to reach Rs 402.18 lakh crore. Market dynamics favored bullish sentiment, with 1,960 stocks recording gains, 1,869 experiencing declines, and 104 remaining unchanged on the BSE.

BSE Sensex, Nifty50 Hit New Highs: Stocks In Focus

ITC, Kotak Bank, Bharti Airtel, SBI, and Asian Paints registered gains among the Sensex stocks, while Maruti Suzuki, HDFC Bank, L&T, and M&M faced losses, according to an ET report.
The Nifty metals index surged by 1.2%, marking a consecutive record high for the second day, driven by optimism about a demand resurgence following robust manufacturing data from the US and China.
Vedanta spearheaded the gains in the index, surging by 6.8% following a double upgrade by CLSA, elevating the stock from “underperform” to “buy” and raising the target price to Rs 390.
The Nifty IT, sensitive to US interest rates, witnessed a 0.6% increase, with Tech Mahindra, TCS, and Infosys leading the charge.
Recent robust economic indicators have diminished expectations for a US interest rate reduction in June, and higher-than-anticipated inflation is likely to exacerbate concerns about a postponement.

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