Together with the Sensex setting a new record high, the Nifty index has reached an all-time high, surpassing 22,300 points.Several reasons, including robust GDP growth in the third quarter of the fiscal year, contributed to the stock market’s ascent, with the Sensex rising by almost 1,000 points and the Nifty reaching a top of 22,304 points.
Gains in industries like as banking, financial services, metals, and the auto industry also contributed to the surge.The government’s fiscal restraint in presenting its budget and the general confidence around India’s economic growth trajectory also contributed to the favorable market attitude.
All things considered, this unprecedented performance is a reflection of market optimism and investor confidence, which are being fueled by strong economic data and advantageous fiscal policies.
Reaching an all-time high, the Nifty, a significant stock market index in India, has accomplished a noteworthy milestone. The following are the main causes of this remarkable upsurge:
Better Than Expected GDP Growth: During the October–December quarter, the Indian economy grew at a strong pace of 8.4%, exceeding projections. Strong manufacturing and building activities drove this development. The bull market has received essential support from the GDP’s good figures.
Upbeat Global Markets: The surge was aided by encouraging indications from the world markets. The Nasdaq Composite and the S&P 500 both reached all-time highs as Wall Street markets finished higher. In addition, the Wall Street rebound helped Japan’s Nikkei index hit a new high.The Hang Seng index in Hong Kong and the CSI 300 in China both increased.
US Data on Inflation: The US inflation number was in line, which improved market mood even more. It preserved the possibility of a June rate cut by the Federal Reserve, indicating increased market liquidity. The idea of fee reductions was well received by participants.
These causes caused the Sensex to soar by more than 1,000 points, reaching a new all-time high of 73,574, and the Nifty50 to exceed the 22,300 barrier for the first time during Friday’s trading. All listed businesses on the Bombay Stock Exchange (BSE) now have a combined market capitalization of Rs 391.18 lakh crore, an increase of Rs 3.23 lakh crore.