Sensex Breaches 60,000 For The First Time, Nifty At Fresh Record High

Indian equity benchmarks surged to new all-time highs as Sensex crossed 60,000-mark for 1st time. The market is growing due to excess liquidity & low-interest rate regime, according to market experts

Indian share market touches new records

Share Market Update: Indian stock markets on Friday continued its broad-based rally after closing a record high on Thursday.

The benchmark BSE Sensex with a gain of 326 points crossed the 60,000 mark for the first time and traded at 60,211, while Nifty 50 was up 89 points at 17,912,  nearing the 18,000 mark.

All the broad market indices were green on Nifty, with Wipro, HCL Tech, Infosys, Grasim, and L&T, leading the gains.  

On Thursday, the benchmark BSE Sensex closed up 1.63%, adding 958 points at 59,885, while the Nifty 50 closed up 1.57% at 17,883.

The BSE Sensex was just 115 points shy of 60,000, while the Nifty 50 is 117 points away to touch the 18,000 mark on Thursday.

Investors felt relieved by the Federal Reserve's stance on withdrawing stimulus and raising interest rates, as US markets rose more than 1% on Thursday.

Trends on SGX Nifty indicated a flat start for the broader index in India, with a gain of 15 points. At 7:30 IST, the Nifty futures were trading around the 17,844 mark on the Singaporean Exchange.

After meeting with Prime Minister Narendra Modi, Blackstone CEO Stephen Schwarzman on Thursday said, "India's been Blackstone's best market for investment in the world. It is the fastest-growing country in the world now. So we are very optimistic, and we are proud of what we have done in India."

The market is growing due to the excess liquidity and low-interest rate regime, according to market experts.

According to SMC Research, Asian stocks rose today, and Treasury yields maintained a surge on optimism about the economic outlook and easing fears of contagion from the debt crisis at China Evergrande Group.

US stocks closed higher on Thursday as investors appeared relieved about the Federal Reserve's stance on tapering stimulus and raising interest rates.

As per provisional figures, Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs) bought shares worth net Rs.357.93 crore, and Domestic institutional investors bought shares worth net Rs.1173.09 Crore on September 23, 2021.