Sens*x 1200 Nifty closed at record high with rise of 370 points...
Sensex 1200 Nifty closed at record high with rise of 370 points...
For the indian stock market, the Thursday, May 23, 2024, trading session was momentous. The market capitalization of companies listed on the BSE surpassed Rs 420 lakh crore for the first time, and both the BSE Sensex and the Nifty of the National Stock Exchange hit fresh all-time highs. The market seems to be in a positive mood because of the aggressive purchase of shares in the banking industry. The Nifty midcap index has also hit a record lifetime high as a result of investments in midcap businesses. The BSE Sensex closed at 75,418 points at the end of trade today, up around 1200 points, while the Nifty of the National Stock Exchange concluded at 22,968 points, up 370 points.
Cap of the market exceeds Rs 420 lakh crore.
An enormous rise in investor wealth has resulted from this historic stock market boom. Following the latest trading session, the market value of equities listed on the BSE closed at Rs 420.09 lakh crore, down from Rs 415.94 lakh crore. The wealth of investors increased by Rs 4.15 lakh crore during today's session.
The state of the sector
The purchase of banking equities has been the primary driver of the stock market's growth. Both public and private bank shares have witnessed significant buying. The Nifty bank index increased by 986 points, or 2.06 percent, to settle at 48,768 points. Nifty auto had a surge of 525 points, while Nifty IT saw a jump of 429 points. The consumer durables sector's shares have also seen strong buying.