Sensex Ends At Record: The Journey Through The Decade
The Sensex closed 1.38% higher at 62,362.44. The Nifty 50 rose 1.39% to close at 18,520.40.
The S&P BSE Sensex closed at a record, while the NSE Nifty 50 ended near a 52-week high on Thursday, led by broad-based gains across sectors. This follows a global rally after the U.S. Federal Reserve's minutes of the meeting showed support for moderate interest rate hikes.
The Sensex closed 1.38% higher at 62,362.44, after hitting an all-time high of 62,412.33 on the BSE. In the last decade, the Sensex surged from around 18,000 to over 60,000 levels.
The Nifty 50 ended 1.39% higher at 18,520.40, after hitting a 52-week high of 18,527.25 on the NSE.
Sensex's Journey Over Last 10 Years
Two triggers assisted the Sensex rally to record highs. One, in the mother market U.S., the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery. Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large caps, mainly the HDFC twins, Infosys, TCS and RIL.Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Among the Nifty 50 constituents, 44 stocks advanced, five declined and one remained unchanged today.
Apollo Hospitals Enterprise Ltd., HDFC Life Insurance Co., Bharat Petroleum Corp. Ltd., Infosys Ltd., and Tata Consumer Products Ltd. were the top gainers.
Cipla Ltd., Coal India Ltd., Kotak Mahindra Bank Ltd., Tata Motors Ltd., and Bajaj Finance Ltd. were the top laggards on the Nifty 50.
The broader indices underperformed their larger peers, with the Mid-cap and Small-cap indices gaining 0.52% and 0.42%, respectively.
Eighteen out of the 19 sectoral measures compiled by BSE Ltd. advanced, with BSE information & technology and teck gaining the most, at over 2%.
The market breadth is skewed in favour of bulls. About 1,941 stocks rose, 1,557 fell, and 137 remained unchanged.