Stock Market At Record High: Indian stock market has created history today. The Sensex crossed 64,000 for the first time and the National Stock Exchange’s Nifty crossed the 19,000 mark for the first time. BSE Sensex has seen a strong rally since morning. But it crossed the 64,000 mark to touch 64,037 levels during the afternoon trade due to heavy buying by investors. While the Nifty crossed the historical high of 19,000 with an increase of 194 points and reached the level of 19,011.
Nifty due to Adani 19,000crosses the
Shares of Tata Motors, Titan, NTPC and Larsen have been instrumental in taking the Sensex past 64,000. 29 out of 30 Sensex stocks are trading in the green. While out of 50 stocks of Nifty index, 47 stocks are trading with bullishness and 3 with a bearishness. Adani Group shares have been the biggest contributor to Nifty crossing 19,000. Nifty-listed Adani Enterprises and Adani Ports are trading up 4.54 percent and 3.42 percent, led by GQG Partners’ investment.
The merger of HDFC Bank and HDFC also contributed
Naveen Kulkarni, CIO, Axis Securities PMS, on Sensex-Nifty making history said, Nifty 50 index has been able to cross historical highs due to excellent investment by domestic institutional investors and foreign portfolio investors. He said that the announcement of the date of merger of HDFC Bank and HDFC also contributed to achieving this milestone.
The boom may continue
HDFC Securities MD CEO Dheeraj Relli said Nifty managed to touch record highs due to investment from institutional, retail and NNI investors. He said that due to better visibility of data coming from America and the announcement of new stimulus package in China, the market has witnessed this boom. He said that the threat of El Nino has averted and if the trend in the market continues, the Nifty may go higher. Dheeraj Relli said that India is seen as the most attractive destination for investors across the world.
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