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Mumbai (Maharashtra) [India], June 27 (ANI): In a remarkable turnaround on Thursday, benchmark indices surged after a dip in early trade, with the Sensex surpassing the historic 79,000-mark for the first time ever and the Nifty setting a new <keyword id="19953076" type="General" weightage="20" keywordseo="record-high" source="keywords">record high</keyword>. This spike follows an all-time high close in the previous trading session. The 30-share BSE Sensex climbed 339.51 points, reaching an unprecedented peak of 79,013.76, driven by strong buying in blue-chip giants Reliance Industries and ICICI Bank. Meanwhile, the Nifty rebounded impressively, adding 97.6 points to achieve a fresh all-time high of 23,966.40. Top gainers included Ultra Cement, Dr. Reddy's Laboratories, Grasim Industries, JSW Steel, and Tata Steel. Conversely, Tech Mahindra, TCS, HCL Technologies, Shriram Finance, and Nestle India were among the top losers. Ajay Bagga, banking and market expert, commented on the market's performance, saying: "Foreign Institutional Investors (FII) selling returned in a big way yesterday in the cash markets but DIIs stepped in to absorb that selling. Today we have a weak <keyword id="20542711" type="General" weightage="20" keywordseo="global-market" source="keywords">global market</keyword> handsoff. <keyword id="20577663" type="General" weightage="20" keywordseo="US-markets" source="keywords">US markets</keyword> recovered in the second half on Wednesday trading to end mildly positive but <keyword id="20155107" type="General" weightage="20" keywordseo="Asian-markets" source="keywords">Asian markets</keyword> and US futures both are weak on Thursday morning." Bagga emphasised the upcoming significant events, including the U.S. Presidential Election Debate and the U.S. Personal Consumption Expenditures (PCE) inflation number, which are expected to influence the market. He added: "Two big events coming up are the US Presidential Election Debate tonight and the US PCE inflation number on Friday. Indian markets are in an overbought zone, and we expect some consolidation at these levels. The next triggers will be US inflation number based rate cut expectation anchoring and the Union Budget expectations, along with the start of the earnings announcement season in two weeks time." In the U.S., indices closed marginally higher on Wednesday, buoyed by Amazon's generative AI initiative, which pushed its valuation past USD 2 trillion. However, a disappointing outlook from Micron Technology impacted the semiconductor sector, including major player Nvidia. Chinese industrial profit growth also showed signs of slowing, with a 0.7 per cent year-on-year increase in May, down from April's 4 per cent. The Japanese yen's weakness continues, hitting a near 38-year low against the dollar, trading at 160.82. Meanwhile, U.S. home sales declined in May, with the Commerce Department reporting a decrease to 619,000, down 11.3 per cent from April's revised 698,000. Investors are now keenly awaiting the U.S. PCE price index data, the Federal Reserve's preferred measure of inflation, which is due on Friday. Varun Aggarwal, founder and managing director, Profit Idea said, "Asian markets were trading negatively on Thursday, with the Nikkei 225 down by 1.07 per cent, the Hang Seng declining by 1.56 per cent, and the Shanghai Composite falling by 0.70 per cent. Despite the bearish trend in equities, crude oil prices saw a slight uptick, with WTI crude rising to USD 80.89 per barrel, up 0.08 per cent, and Brent crude climbing to USD 85.23 per barrel, up 0.26 per cent." He added, "The U.S. Dollar Index (DXY) also saw a rise, up 0.26 per cent to 106.05, reflecting the dollar's strength amidst global economic uncertainties. U.S. stock indices ended with modest gains; the Nasdaq Composite rose by 0.49 per cent, the S&amp;P 500 increased by 0.16 per cent, and the Dow Jones Industrial Average went up by 0.04 per cent." Market participants are closely watching the developments in global economic indicators and key events. The Indian market, after achieving an all-time high, appears to be in a consolidation phase, awaiting further cues from both domestic and international arenas. The anticipated U.S. inflation data and domestic earnings announcements are expected to provide clearer direction in the coming weeks.

After flat opening to market, Sensex breaches 79,000-mark for first time; Nifty hits new lifetime high

The market capitalisation of <keyword id="22204882" type="General" weightage="100" keywordseo="BSE-listed-firms" source="keywords">BSE-listed firms</keyword> hit an all-time high of Rs 438.41 lakh crore on Thursday, fuelled by a record-breaking rally in equities where the <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> breached the historic 79,000 mark for the first time. Rallying for the fourth day running, the 30-share BSE Sensex jumped 568.93 points or 0.72% to settle at a new closing peak of 79,243.18 on Thursday. During the day, it zoomed 721.78 points or 0.91% to hit the new lifetime peak of 79,396.03. In the past four trading days, the BSE benchmark jumped 2,033.28 points or 2.63% The market capitalisation of BSE-listed companies hit a lifetime high of Rs 4,38,41,960.73 crore ($ 5.25 trillion). Investors' wealth has gone up by Rs 3.93 lakh crore in four trading sessions. Remarkably, the BSE benchmark took just two trading sessions to cover the journey from the 78,000 level hit on June 25 to breach the 79,000 mark on June 27. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74%. Intra-day, it soared 218.65 points or 0.91% to hit the all-time peak of 24,087.45. The Nifty hit the 23,000 mark on May 24 this year. Among the 30 Sensex companies, <keyword id="19963567" type="General" weightage="20" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> jumped 5% after the country's leading cement maker said it will acquire a 23% stake in its Chennai-based rival <keyword id="20440239" type="General" weightage="20" keywordseo="India-Cements-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="India Cements Ltd" meta.hostid="261" meta.entityid="India Cements Ltd">India Cements Ltd</keyword>, in a deal estimated to be around Rs 1,885 crore. <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>, JSW Steel, <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Infosys, <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword>, Kotak Mahindra Bank and Bharti Airtel were also among the major gainers. <keyword id="45475" type="General" weightage="20" keywordseo="larsen-toubro" source="Orion">Larsen &amp; Toubro</keyword>, Sun Pharma, Nestle, <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Maruti and State Bank of India were among the laggards. "The Sensex surpassing 79,000 marks a historic milestone, reflecting healthy investor confidence and strong fundamentals in key sectors like banking and telecom. Benchmark indices rallied on Thursday, reversing earlier declines, driven by strong buying in blue-chip companies, propelling the Sensex past this historic barrier and leading the Nifty to a new all-time high". "Remarkably, it took only 23 sessions to rise from 23,000 to 24,000, compared to 88 sessions previously," continued Trivesh D, COO at Tradejini, a discount brokerage firm. "The benchmark indices exhibited bullish momentum, buoyed by an expected revival in the IT sector and consolidation in the cement industry," Vinod Nair, Head of Research at Geojit Financial Services, said.

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After flat opening to market, Sensex breaches 79,000-mark for first time; Nifty hits new lifetime high

ANI

Market cap of BSE-listed firms hit all-time high of Rs 438.41 lakh crore

PTI

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