Indian stock market records significant gains, Sensex and Nifty hit record highs

From Mint: 2024-06-03 07:11:08

The Indian stock market saw significant gains on Monday, June 6, reaching levels not seen since January 2021, following optimistic exit polls predicting an NDA victory in the Lok Sabha elections. Factors such as better-than-expected GDP numbers and global cues also contributed to the market rally. The Sensex and Nifty hit record highs, with the Sensex closing up 3.39% and the Nifty up 3.25%. The BSE Midcap and Smallcap indices also reached new heights, reflecting investor confidence. The market capitalization of BSE-listed firms increased by ₹14 lakh crore in a single session, with many stocks hitting 52-week highs. Sectoral indices like Nifty PSU Bank and Nifty Bank also surged, backed by overall positive market sentiment. Experts believe the market responded positively to the anticipation of a stable political environment and investment-friendly policies post-election results, with technical analysis indicating a positive outlook for the Nifty 50.



Read more at Mint: Stock market today: Sensex, Nifty 50 record biggest single-day gain in 3 years; investors earn ₹14 lakh crore in a day