July 15th 2024.
In an exciting start to the week, the Indian stock market saw record high levels as the benchmark Sensex and Nifty closed at new heights on Monday. This was largely due to an increase in foreign investments and buying activity in State Bank of India.
The 30-share BSE Sensex rose by 145.52 points, or 0.18%, to reach a new record high of 80,664.86. Throughout the day, it showed a steady increase and even reached a high of 80,862.54, a jump of 343.2 points or 0.42%.
The NSE Nifty also saw a surge, closing at an all-time high of 24,586.70, a rise of 84.55 points or 0.35%. It too reached a new peak during the day, hitting 24,635.05, a gain of 132.9 points or 0.54%.
The top performers among the Sensex shares were State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti, and ITC. However, there were a few laggards as well, including Asian Paints, Tata Steel, Axis Bank, JSW Steel, Tech Mahindra, and Tata Consultancy Services.
While Asian markets like Seoul and Shanghai closed on a positive note, Hong Kong ended the day in the red. European markets, on the other hand, were trading lower. The US markets, however, had a positive finish on Friday.
According to exchange data, Foreign Institutional Investors were seen buying equities worth Rs 4,021.60 crore on Friday. In the global market, the oil benchmark Brent crude saw an increase of 0.18%, reaching $85.15 per barrel.
This upward trend in the Indian stock market comes on the heels of a strong performance last week, where the BSE benchmark rose by 622 points, or 0.78%, to close at 80,519.34. Similarly, the Nifty saw a surge of 186.20 points, or 0.77%, to close at 24,502.15. With the current momentum, investors are hopeful for a continued bullish trend in the coming days.
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