Benchmark index Nifty opened the month on a strong footing, surging to a fresh all-time high, fuelled by India’s stronger-than-expected 8.2% GDP growth in the second quarter. The 30-share Sensex also jumped sharply, rising as much as 0.41% to claim its own peak of 86,159. Nifty Bank mirrored the sentiment and hit its fresh record high of 60,114 in early trade today.
The NSE Nifty 50 added 120 points, or 0.46%, to a record high of 26,326 just days after climbing to its previous record peak of 26,310.45 on November 27. The S&P BSE Sensex rose 360 points, or 0.41%, to open at 86,159.
On the 30-stock Sensex, BEL, Tata Motors Passenger Vehicles, SBI, Tata Steel, and HCL Tech were the top gainers, each rising over a percent. Bajaj Finance, ITC, and Titan Company were the only laggards, down 0.2% each.
The broader market also traded firm, with small-caps and mid-caps opening 0.6 and 0.4% higher, respectively.
The GDP print has beaten all forecasts, revived confidence in domestic demand and reinforced India’s position as a standout market at a time when global cues remain uneven.
MORE TO COME…