Stock Market Opening Today Sees New Peaks as Sensex and Nifty Surge on Global Optimism

Sensex and Nifty hit new highs, opening with gains driven by positive global trends and strong foreign investment. Sensex rose 242.08 points, while Nifty increased by 71.90 points.

Vinayak Hagargi
June 19, 2024
11:19 am
1 min read

Sensex and Nifty extended their record-breaking spree, opening on Wednesday at new highs amid positive global cues and robust foreign inflows. The Sensex surged 242.08 points to 77,543.20, and the Nifty increased by 71.90 points to 23,629.80.

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Market dynamics showed most sectoral indices in the green with IT, PSU Banks, Pharma, and FMCG making gains. However, sectors like PSE, Realty, Media, and Energy faced downturns. This mixed performance highlighted the selective nature of the ongoing bull run.

The broader market initially participated in the rally but quickly reversed gains. The Nifty Midcap 100 fell by 1.00 percent to 54,893.60, and the Nifty Smallcap 100 dropped 1.33 percent to 18,056.60, reflecting a cautious approach among investors in smaller stocks.

India’s volatility index, the VIX, saw a slight increase of 0.06 points to 13.06, indicating a relatively calm market environment compared to the typically more turbulent election seasons. This stability is seen as a positive sign by market watchers.

Among individual stocks, the banking sector dominated the gainers with IndusInd Bank, ICICI Bank, HDFC Bank, Kotak Bank, and JSW Steel leading. Conversely, Titan, BPCL, Coal India, Adani Enterprises, and Shriram Finance were the major laggards, underperforming in the session.

Vinayak Hagargi

Vinayak is a passionate financial markets enthusiast with 4+ years of experience. He has curated over 100 articles simplifying complex financial concepts. He has a unique ability to break down financial jargon into digestible chunks. Vinayak aims to empower newbies with relatable, easy-to-understand content. His ultimate goal is to provide content that resonates with their needs and aspirations.

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