Stock market rises for the fourth consecutive day, Sensex, Nifty at new record levels
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Mumbai In volatile trading in the local stock markets on Monday, both the benchmark indices – BSE Sensex and NSE Nifty closed at record levels. The market remained bullish for the fourth consecutive day due to buying in energy and bank shares. The 30-share Sensex closed at its highest ever level of 73,872.29 points, rising by 66.14 points or 0.09 percent. During trading, it had jumped to 183.98 points at one point. National Stock Exchange’s Nifty also closed at a record level of 22,405.60 points with a rise of 27.20 points or 0.12 percent. During trading it had reached its highest ever level of 22,440.90 points.
Among the Sensex stocks, NTPC, PowerGrid, Reliance Industries, Bajaj Finserv, Axis Bank, Tech Mahindra, ICICI Bank, Bharti Airtel and IndusInd Bank were the major gainers. On the other hand, the losing stocks include JSW Steel, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Infosys and Titan. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were among the gainers. There was a mixed trend in early trade in major markets of Europe. US markets were in profit on Friday. Global rating agency Moody’s on Monday raised India’s growth forecast for 2024 to 6.8 percent. Earlier, the rating agency had estimated the Indian economy to grow at the rate of 6.1 percent in 2024.
India’s economic data for the past year has been better than expected, due to which Moody’s has increased its growth forecast. Sensex had gained 60.80 points and Nifty 39.65 points in the special trading session on Saturday. The country’s major stock exchanges BSE and National Stock Exchange had organized a special trading session in the shares and share futures and options section on Saturday to test their preparedness to deal with any major disruption. Meanwhile, global oil benchmark Brent crude rose 0.30 per cent to $83.80 per barrel. According to stock market data, foreign institutional investors had sold shares worth Rs 81.87 crore on Saturday.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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