Sensex hits 82,600 and Nifty surpasses 25,300; markets open at new record highs

Historic market opening: Sensex and Nifty set new record highs

Benchmark equity indices Sensex and Nifty reached new all-time highs in early trading today, buoyed by gains in regional markets following US economic data that alleviated growth concerns. Investors are now awaiting domestic quarterly growth figures.

The NSE Nifty 50 surged to 25,333.28, while the S&P BSE Sensex climbed to 82,725.28, marking record highs for both indices. The ongoing rally is fueled by optimism surrounding a potential US interest rate cut and renewed foreign fund inflows.

Among the 30 Sensex constituents, notable gainers included Bajaj Finserv, HCL Tech, ITC, Tech Mahindra, Infosys, and Asian Paints. In contrast, Tata Motors, Mahindra & Mahindra, NTPC, and Bharti Airtel saw declines.

The Nifty extended its rally for the twelfth consecutive session, achieving its longest-ever streak. This surge is driven by expectations of an imminent US interest rate cut. TVS Motor reported a 13% increase in August domestic two-wheeler sales, while Hero MotoCorp saw a nearly 5% rise in domestic sales.

India’s GDP growth for the April-June quarter came in at 6.7% year-on-year, down from 7.8% in the previous quarter but still the highest among major economies. HDFC Bank’s Principal Economist Sakshi Gupta noted that the growth momentum persisted despite seasonal slowdowns and the impact of the national general election.

Broader Asian markets started the week quietly as investors prepared for a week of crucial data releases, including a US jobs report that could influence the anticipated interest rate cut.

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