India’s stock market is very well known, the Indian stock market saw a huge surge on Thursday. In which the Sensex-Nifty high an all-time high record that it had never reached. Despite the initial slowdown, the stock market bounced back during the trading session. In which Sensex rose by 1200 points and reached a new peak of 75,408. Then the Nifty also touched a fresh high of 22,960 after crossing 22,900 for the first time with a surge of about 1.5 percent.
Many reasons were responsible for this Sensex-Nifty High record rise.
RBI’s record dividend payout
The Reserve Bank of India, also known as RBI, announced a record dividend of Rs 2.11 lakh crore to the government.
People believe that this dividend will help the government to control the fiscal deficit. Rajesh Palvia, who is head of technical and derivatives research at Axis Securities, said, “RBI has given a dividend of ₹1 lakh crore, much higher than the government’s estimate.”
Market Rally Insights
According to Sonny Patnaik, head of JM Financial Services, the market saw a rally of 1000 points from the 21,800 level.
Due to which the sellers have left the system. In which there has been a jump of 26% in short ratio for a long time. Nifty saw a special surge today as the market is very high today. But now we have to take care that the market remains in its present position in the future also because this becomes necessary for the development of India.
Nifty has been very successful in resisting its strength, today it has been beaten by the stock market as well. Because today Nifty went up to 22800. By the end of the month it can even reach 23000.
Sensex-Nifty High Market Performance
When the stock market trading opened today, investors had a special opportunity to monitor the activities of the Central Bank Governor. But it is said that “a monkey that eats a leaf that is not in luck” has happened with investors today. Investors also realize that Nifty can never go that high. But it went and took the Sensex with it. Due to this, Sensex also jumped more than 1100 points and crossed another new level of 75,400. While Nifty was seen up to the level of 22,900 at the same time. Sensex-Nifty High but the problem is not that very much.
Earlier, domestic benchmark indices Sensex-Nifty High opened flat on Thursday. Although initially there was a mandi-like atmosphere in the stock market, what happened to the Sensex at 9:58 am with an increase of 251.82 (033%)
74,482.25 par was seen trading. Because Nifty was also trading at a very high point at the same time.
Some of the major Sensex companies like Asian Pants, Axis Bank, L&T, Indian Bank, Bharti Airtel also opened this morning with a boom. On the other hand Tata Steel, JSW Steel. Shares of companies like Power Grid, Sun Pharma fell. All this happened for one reason, the US. The Nifty IT index shares gained 0.23% amid uncertainty over the interest rate cut.
Sectoral Performance
Domino’s franchise company in India also saw an increase in profits in the fourth quarter. After which, sector-wise Nifty Bank, Consumer Durables, Realty and Nifty Gas and Oil stocks opened with gains. On the other hand, some stocks of FMCG, Nifty Auto, Metal and Pharma sectors showed weakness.
Conclusion
Nifty also saw such a rise in the share market for the first time Sensex-Nifty High at all day all long. Due to which the investors also benefited a lot in Sensex. And some money may have sunk. If you want to do trading, call-put, intraday, holding, etc. in sharemarket then Groww App can be the best solution. In which you can see all the information of the share market in one place. Before investing money in share market it is necessary to read its terms and conditions.
