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Sensex achieves new record high, surges over 200 points; Nifty crosses 20,700-mark

Analysts observe a surge in momentum, attributed partly to the recent victory of the ruling Bharatiya Janata Party (BJP) in key state elections.

Nitin Kumar Edited By: Nitin Kumar @Niitz1 New Delhi Updated on: December 05, 2023 9:49 IST
Image Source : FILE Business stock exchange building.

In a remarkable performance, India's benchmark indexes opened at fresh record highs, with the Sensex surging over 200 points. The Nifty, too, demonstrated strength by crossing the significant milestone of 20,700 points. The bullish trend comes on the heels of robust domestic macroeconomic data and heightened expectations of a US rate cut in March.

As of 9:16 a.m. IST, the NSE Nifty 50 index rose 1.65% to 20,602.50 points, achieving a record high for the second consecutive session. Simultaneously, the S&P BSE Sensex reached an all-time high of 68,587.82, registering a 1.64% increase. Investors are keenly watching the market as it responds to various economic factors and political developments.

The financial markets have achieved a historic milestone as the Sensex, the country's benchmark index, crossed the 69,000-point mark for the first time. This significant surge comes as the markets continue their upward trajectory, recording fresh record highs for the second consecutive session. The positive momentum is attributed to robust macroeconomic data, anticipation of a U.S. rate cut in March, and the recent electoral success of the Bharatiya Janata Party (BJP) in crucial state elections, including Madhya Pradesh, Rajasthan, and Chhattisgarh. Investors are closely monitoring the evolving economic landscape and political developments shaping market dynamics.




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