Sensex Touches 80,000 Mark For The First Time; Nifty Crosses Life-High

The Indian markets opened on an optimistic note on Wednesday, July 03. The BSE Sensex touched the 80,000 mark for the first time in history. At 0929 IST, BSE Sensex reached 79,837.7, gaining 396.26 points or 0.50 per cent. Meanwhile, the NSE Nifty also surged in green.

In fact, Nifty crossed life high. The marquee index jumped by 0.73 per cent or 176.05 points, taking the cumulative value to 24,299.90. The previous high was below 24,292.

This development comes to pass at a time, when the Indian parliament is in session, July 3 being the last day before an interim break.

The parliament will convene again later in the month of July, when the country's finance minister, Nirmala Sitharaman, will present this fiscal year, i.e FY25's full budget. The interim budget before the dissolution of the 17th Lok Sabha on February 1.

The markets have recovered remarkably well in the past few weeks, especially after the June 3 debacle, when the markets bled like never before. The Indian indices have maintained a streak of multiple life-highs in the recent past.

In the BSE pack, the banking shares led the show, with HDFC Bank rising by 2.68 per cent, taking its cumulative to Rs 1,776.80 per share. It was followed by Axis Bank, Kotak Bank and ICICI Bank, with all of them trading ahead with an increase of at least a per cent.