The S&P BSE Sensex breached the remarkable 76,000-mark for the first time, hitting 76,010, while the NSE Nifty50 scaled a new summit at 23,111 before retracting into negative territory.
By creating an unprecedented wealth of USD 1 trillion in just 6 months, both indices of the Indian stock market BSE and NSE have joined the exclusive USD 5 trillion club, defying the FII (Foreign Institutional Investors) pull out before the outcome of the Lok Sabha election on June 4
Indian indices Nifty and Sensex opened flat on Friday, near the record closing of the previous day. The Nifty Index opened at 22,930 points, very close to the 23,000 mark. The Sensex also sustained Thursday's rally and opened near 75,335, close to the 75,500 mark.
Just two days after the market cap of BSE-listed companies touched the milestone of USD 5 trillion, the market capitalisation of companies listed on NSE too reached a similar feat on Thursday.
On Wednesday, Nifty 50 index gained 20 points to 22,549.70 from the previous close of 22,529.05, while the Sensex also took a small lead of 91 points to 74,044.53 after closing at 73,953.31 on Tuesday.
The six seats in Mumbai that go to the polls on Monday are Mumbai North, Mumbai North West, Mumbai North East, Mumbai North Central, Mumbai South and Mumbai South Central. The other constituencies of Maharashtra that will be part of the ongoing election in the fifth phase include Dhule, Dind
Analysts now believe the uptrend in the Indian stock benchmarks is expected to continue through this upcoming week starting Tuesday. On Monday, stock markets will remain closed on account of General Elections.
Indian benchmark indices start Friday's trading session on a muted note influenced by global cues. The Nifty 50 index declined by 29 points to 22,374.20 in the early trade while the BSE Sensex lost 149 points to 73,548 at the time of filing this report.
At Thursday's closing session, the NSE Nifty 50 surged 203 points, or 0.92 percent, closing at 22,403.85, while the BSE Sensex climbed 676 points, or 0.93 percent, settling at 73,663.72.
Indian benchmark indices on Wednesday deviated from their three-day winning streak and concluded in negative territory amidst cautious sentiment of investors preceding the release of crucial US inflation data and the ongoing elections.