Sensex opened up at 353.34 factors and presently buying and selling at 65,071.90, an all-time high, whereas Nifty is up by 99.85 factors and buying and selling at 19,288.90. The 30-share BSE Sensex jumped 449.46 factors to hit its all-time peak of 65,168.02 in early commerce. The NSE Nifty climbed 128.95 factors to achieve its lifetime high of 19,318.
From the Sensex pack, HDFC, HDFC Bank, Mahindra & Mahindra, ExtremelyTech Cement, Tata Steel, Bajaj Finance, State Bank of India, Reliance Industries, Bajaj Finserv and ICICI Bank have been the foremost gainers. Power Grid, Maruti, Tech Mahindra, IndusInd Bank, HCL Technologies and Axis Bank have been among the many laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong have been buying and selling within the inexperienced. The US markets ended considerably larger on Friday. Global oil benchmark Brent crude dipped 0.01 per cent to USD 75.41 a barrel. Foreign Institutional Investors (FIIs) purchased equities price Rs 6,397.13 crore on Friday, in accordance with trade information.
GST collections crossed Rs 1.60 lakh crore mark for the fourth time for the reason that roll-out of the oblique tax regime, rising 12 per cent to over Rs 1.61 lakh crore in June, the Finance Ministry stated on Saturday. The BSE benchmark had jumped 803.14 factors or 1.26 per cent to settle at its lifetime closing high of 64,718.56 on Friday. The Nifty climbed 216.95 factors or 1.14 per cent to finish at a document high of 19,189.05.
“The ongoing rally in global stock markets is primarily driven by the surprising and unexpected strength of the US economy (2 per cent GDP growth in Q1 2023), in spite of the savage 500 bp rate hike by the Fed. Global markets, which had discounted a US recession by mid 2023, have been proved wrong and the markets are now compensating for the excessive pessimistic discounting in 2022,” V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated. Sustained FPI flows (Rs 47,148 crore in June) is the principle driver of the rally in India, Vijayakumar added.
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