Indian stock indices settled the week's trade on a high, keeping the gains that were accumulated throughout the day intact. The indices were supported by continued buying by foreign portfolio investors.
Indian stock markets opened on a positive note on the last trading session of August, following a global rally in stocks after the strong GDP numbers of the US economy.
The Nifty touched a record high at 25,174.55 and Sensex rose to 82,220.68. The indices opened almost flat with a mixed response from both indices in the opening hour.
Stock markets globally are facing pressure after Nvidia management disappointed some investors during the announcement of quarterly results. The company, however, showed good quarterly results.
Expectations of strong festival season demand, revival in rural demand, and hopes of interest rate cuts later this fiscal year are expected to support stock markets, brokerage Prabhudas Lilladher said in its latest 'India Strategy' report.
The Nifty at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading hour on Wednesday. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty. The sectoral index of IT was trading with a lead of 1.96 per cent.
New Delhi [India], August 27: Max Life Insurance Company Ltd. ("Max Life"/ "Company") has introduced the Nifty 500 Momentum 50 Index Fund in the ULIP segment. The New Fund Offer (NFO) window will remain open till 1st September 2024, at Rs. 10 per unit, applicable only during the NFO period.
In a volatile trade, Indian stock indices - Sensex and Nifty - closed Tuesday's session largely on a steady note. The indices started the day flat and later oscillated between red and green, but closed with marginal gains.
The Indian stock markets opened flat on Tuesday amid the anticipations of profit-booking as the benchmark indices on Monday remained close to the lifetime highs.
Indian stock market indices Sensex and Nifty were seen inching towards their fresh lifetime highs on the first trading day of the week, driven by a rally in US and fresh foreign portfolio investments