Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, called in trade on Friday, surging to new lifetime highs. While BSE Sensex crossed 84,100 for the first time, Nifty50 also hit a high of over 25,650. At 10:52 AM, BSE Sensex was trading at 84,055.24, up 870 points or 1.05%. Nifty50 was at 25,660.80, up 245 points or 0.96%.
Domestic benchmarks continued their record-breaking streak taking cues from positive global and Asian markets amid the US Fed’s shift towards a monetary easing policy.
The rally in the market led to a Rs 4 lakh crore increase in the combined market capitalization of all BSE-listed stocks, reaching Rs 469.5 lakh crore, according to an ET report.
The broader market also participated in the rally, with the smallcap index gaining 0.5%. Metal stocks, particularly JSW Steel, Hindalco, and Tata Steel, were among the top performers following a bullish note from global brokerage Macquarie, which cited resilient domestic fundamentals and easing input costs.
IIFL Finance shares surged 12% after the RBI lifted restrictions on its gold loan business. However, Vodafone Idea shares continued to decline, trading around 3% lower. IT stocks failed to recover and were trading lower for the third consecutive day.
Analysts expect the Nifty to trade within the 25,000-26,000 range, with key resistance at 25,500. “With strong market momentum, Nifty looks primed for gains. Stock picks include Titan (CMP ₹3,781) with a target of ₹3,951, and Oberoi Realty and Naukri, both offering bullish potential on intraday weakness,” said Prashanth Tapse of Mehta Equities.
The Bank Nifty outperformed the Nifty this week, rising 2% compared to the Nifty’s 0.2% gain. “Weakness in the broader market on valuation concerns is another important trend. These trends are likely to continue,” said Dr. V K Vijayakumar of Geojit Financial Services.
Global markets also witnessed positive sentiment, with the Dow closing above 42,000 for the first time and the S&P 500 logging a record close. Asian shares extended their rally on Friday, benefiting from the outsized interest rate cut in the United States. Japan’s Nikkei was up 2% after the Bank of Japan maintained its interest rates unchanged and upgraded its assessment of consumption.
The rupee continued its gaining streak for the third straight session, rising 9 paise to 83.56 against the US dollar in early trade on Friday, supported by a firm domestic equity market and a weakening American currency.
Domestic benchmarks continued their record-breaking streak taking cues from positive global and Asian markets amid the US Fed’s shift towards a monetary easing policy.
The rally in the market led to a Rs 4 lakh crore increase in the combined market capitalization of all BSE-listed stocks, reaching Rs 469.5 lakh crore, according to an ET report.
The broader market also participated in the rally, with the smallcap index gaining 0.5%. Metal stocks, particularly JSW Steel, Hindalco, and Tata Steel, were among the top performers following a bullish note from global brokerage Macquarie, which cited resilient domestic fundamentals and easing input costs.
IIFL Finance shares surged 12% after the RBI lifted restrictions on its gold loan business. However, Vodafone Idea shares continued to decline, trading around 3% lower. IT stocks failed to recover and were trading lower for the third consecutive day.
Analysts expect the Nifty to trade within the 25,000-26,000 range, with key resistance at 25,500. “With strong market momentum, Nifty looks primed for gains. Stock picks include Titan (CMP ₹3,781) with a target of ₹3,951, and Oberoi Realty and Naukri, both offering bullish potential on intraday weakness,” said Prashanth Tapse of Mehta Equities.
The Bank Nifty outperformed the Nifty this week, rising 2% compared to the Nifty’s 0.2% gain. “Weakness in the broader market on valuation concerns is another important trend. These trends are likely to continue,” said Dr. V K Vijayakumar of Geojit Financial Services.
Global markets also witnessed positive sentiment, with the Dow closing above 42,000 for the first time and the S&P 500 logging a record close. Asian shares extended their rally on Friday, benefiting from the outsized interest rate cut in the United States. Japan’s Nikkei was up 2% after the Bank of Japan maintained its interest rates unchanged and upgraded its assessment of consumption.
The rupee continued its gaining streak for the third straight session, rising 9 paise to 83.56 against the US dollar in early trade on Friday, supported by a firm domestic equity market and a weakening American currency.