Stock Market Surges: Nifty Hits Record High, Sensex Climbs 329 Points on IT Stock Boost

The stock market indices rose in early trading on Friday, with the NSE Nifty reaching a new all-time high. This was due to increased purchasing of IT stocks and consistent foreign capital inflows. The 30-share BSE Sensex surged by 329.52 points to reach 77,808.45 in early trade. The Nifty also went up by 100.1 points, hitting a record high of 23,667.10. Out of the 30 Sensex companies, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, Wipro, Bajaj Finserv, Power Grid, and IndusInd Bank saw the most gains. On the other hand, Tata Steel, Hindustan Unilever, Kotak Mahindra Bank, and HDFC Bank were among the companies that saw lower performance. According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 415.30 crore on Thursday. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, “The market is currently in a consolidation phase, and it is expected to continue. There are no major reasons for aggressive buying or selling. Despite the consolidation phase, the market sentiment remains positive, and hence, buying on dips is likely to strengthen the market.” The global oil benchmark Brent crude saw a 0.15% decline, settling at USD 85.58 per barrel. On Thursday, the BSE Sensex rose for the sixth consecutive session, climbing 141.34 points or 0.18% to a new closing high of 77,478.93. The Nifty also increased by 51 points or 0.22%, closing at a new high of 23,567. In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading lower. US markets closed with mixed results on Thursday.