Stock Market: Green Wave Sweeps Dalal Street As Indices Hits Record High Amidst Modi 3.0 Govt Formation Gets Closer

Stock Market: Green Wave Sweeps Dalal Street As Indices Hits Record High Amidst Modi 3.0 Govt Formation Gets Closer

The surge came in the wake of the RBI's decision to maintain the status quo on repo rates and policy stance, coupled with a revision of GDP estimates for FY25 in an upward direction.

Oliviya KunjumonUpdated: Friday, June 07, 2024, 04:02 PM IST
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The Indian headline indices Sensex and Nifty ended the day on a positive on Friday, June 7, achieving a fresh record high that surpassed the previous milestone.

The stock market indices, on Friday ended the day in Green, reaching a fresh record high with Sensex at 76,693.36, up by 1618.85 points or 2.16 points.

On the other hand, the NSE Nifty closed at 23,290.15, up by 468.75 per cent or 2.05 per cent.

Moreover, the Nifty Bank rose 511.30 points, reaching at 49,803.20 and the Midcap index gained 781 points to 53,195.

Ramco Cement, L&T Fin, JK Cement were amongst the major midcap gainers.

The recent surge came in the wake of the RBI's decision to maintain the status quo on repo rates and policy stance, coupled with a revision of GDP growth projection for the fiscal year 2024-25.

Companies Leading the Gains

Companies Leading the Gains

Companies Leading the Gains | BSE

All 30 companies listed on the Sensex were ended in positive territory.

Among the companies contributing to the surge in the Sensex were Mahindra & Mahindra, Wipro, Tech Mahindra, UltraTech Cement, Tata Steel, and Infosys, all of which were among the top gainers of the day.

Stocks in the IT sector and those sensitive to interest rates, such as banks, real estate, and automotive companies, also ended on a positive note

Sensex and Nifty Reach New Peaks

The 30-share BSE Sensex skyrocketed by 1,720.8 points, hitting a record peak of 76,795.31 during the day's trading session. The NSE Nifty also saw an increase, rising by 498.8 points to reach 23,320.20.

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