Explorer

Stock Market Update: BSE Sensex Zooms Past Record 55,000 Mark, Nifty Trades Above 16,000

Stock Market Update: The rise in Indian stock markets may be linked to inflation and IPP data.

Mumbai: The benchmark Indian equities indices reached new highs on Friday, with the BSE Sensex surged to 55,215.44, up 371.46 points, while the Nifty zoomed 102.40 points to 16,466.80. The rise in Indian stock markets may be linked to inflation and IPP data.

According to data issued by the National Statistical Office, retail inflation fell to 5.59% in July from 6.26% in June, while the Index of Industrial Production (IIP) increased by 5.7% month over month and 13.6% year over year.

Top gainers on NSE included Tata Consumer Products, Bajaj Auto, Larsen & Toubro, TCS, and Hindalco. At the same time, the top losers were Eicher Motors, Bajaj Finance, Tech Mahindra, Tata Steel, and Power Grid.

The Indian markets were rising even though Asian stocks sank on Friday as the delta Covid-19 variant spread and China's regulatory restrictions dampened sentiment. However, the US markets closed at another record high on Thursday.

All the indexes on BSE, including the BSE Midcap and smallcap indices, were trading in green. Nifty Midcap, Nifty bank, and Nifty financial services index were also in green.

Traders believe India's record-breaking market boom will continue, backed by expectations of continuing dovish monetary policy even as inflation fears grow.

Despite the economy's pandemic-related challenges, India's stock markets have experienced an infusion of retail investors.
Because of the low-interest-rate environment, retail involvement is likely to have increased.

Taking a clue from the stock market, Finance Minister Nirmala Sitharaman on Thursday asked the chieftains of India Inc. to hold the bull by its horn and requested them to come out in a big way, to take risks, to make decisions.

"Indians are just not looking at bank savings. They are investing in stock markets. The number of new Demat accounts shows that. We have a 3 lakh Demat account opening per month. People are now taking shares in companies that are managed well," said the Finance Minister. 

View More
Advertisement

IPL Auction 2025

Most Expensive Players In The Squad
Virat Kohli
₹21 CR
Josh Hazlewood
₹12.50 CR
Phil Salt
₹11.50 CR
View all
Most Expensive Players In The Squad
Rishabh Pant
₹27 CR
Nicholas Pooran
₹21 CR
Ravi Bishnoi
₹11 CR
View all
Most Expensive Players In The Squad
Jasprit Bumrah
₹18 CR
Suryakumar Yadav
₹16.35 CR
Hardik Pandya
₹16.35 CR
View all
Most Expensive Players In The Squad
Heinrich Klaasen
₹23 CR
Pat Cummins
₹18 CR
Abhishek Sharma
₹14 CR
View all
Most Expensive Players In The Squad
Ruturaj Gaikwad
₹18 CR
Ravindra Jadeja
₹18 CR
Matheesha Pathirana
₹13 CR
View all
Most Expensive Players In The Squad
Shreyas Iyer
₹26.75 CR
Arshdeep Singh
₹18 CR
Yuzvendra Chahal
₹18 CR
View all
Most Expensive Players In The Squad
Sanju Samson
₹18 CR
Yashaswi Jaiswal
₹18 CR
Riyan Parag
₹14 CR
View all
Most Expensive Players In The Squad
Venkatesh Iyer
₹23.75 CR
Rinku Singh
₹13 CR
Varun Chakaravarthy
₹12 CR
View all
Most Expensive Players In The Squad
Rashid Khan
₹18 CR
Shubman Gill
₹16.50 CR
Jos Buttler
₹15.75 CR
View all
Most Expensive Players In The Squad
Axar Patel
₹16.50 CR
KL Rahul
₹14 CR
Kuldeep Yadav
₹13.25 CR
View all
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

As Race For Maharashtra CM Post Heats Up, Eknath Shinde Upset Over BJP's 'Claim' For Top Post: Sources
As Race For Maharashtra CM Post Heats Up, Eknath Shinde Upset Over BJP's 'Claim' For Top Post: Sources
Schools In Delhi-NCR To Go In Hybrid Mode After Supreme Court Directive On Air Pollution
Schools In Delhi-NCR To Go In Hybrid Mode After Supreme Court Directive On Air Pollution
PAN 2.0 Announced: Do You Need To Change PAN Number? Will It Be Free? All Your FAQs Answered
PAN 2.0 Announced: Do You Need To Change PAN Number? Will It Be Free? All Your FAQs Answered
Rashmi Shukla Reappointed As Maharashtra DGP After Mahayuti Win
Rashmi Shukla Reappointed As Maharashtra DGP After Mahayuti Win
Advertisement
ABP Premium

Videos

FIR Filed Against Sambhal MP Ziaur Rahman, Statement Released Amidst ControversyFIR Filed Against Sambhal MP Ziaur Rahman and Local MLA's Son in Controversial CaseSambhal Violence Sparks Political Firestorm, Congress MP Imran Masood's Strong Remarks | ABP NewsBreaking News: SP Leader Ram Gopal Yadav Reacts to Sambhal Violence | ABP News

Photo Gallery

Embed widget