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Sensex, Nifty hit new all-time high levels in early trade

Analysts attribute the rally to robust corporate earnings, favourable global market trends, and investor optimism about the domestic economic outlook.

Edited By: Nitin Kumar @Niitz1 New Delhi Updated on: June 18, 2024 10:01 IST
Image Source : PTI Business stock exchange building.

The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.

Energy stocks lead gains

Energy stocks climbed by 0.5%, with ONGC leading the pack with a 1.2% increase after the government reduced the windfall tax on petroleum crude from 5,200 rupees to 3,250 rupees per metric ton, effective June 15.

Wipro’s strong performance

Wipro saw a 3% rise following the announcement of an extended digital transformation partnership with Hanesbrands, positioning it among the top five gainers in the Nifty 50.

Public sector enterprises rally

Public sector enterprises rose by 1%, continuing their post-election results rally for the ninth consecutive session. State-owned lenders also saw a 0.5% increase.

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