After Prime Minister Narendra Modi predicted a historic win for the BJP in the upcoming election and forecasted record highs for the stock markets on June 4, the benchmark Nifty index crossed the 22,800 mark for the first time during Thursday's session.
Gold, considered a safe haven asset for investment, has been in demand for considerable period of time, with its prices rallying to hit record highs every now and then.
Indian stock market closed almost flat on the Tuesday trading session after hitting all time during the opening trade. The Nifty touched an all-time high of 22,768.40 to close at 22,641.75 while the Sensex touched all time high of 75,124.28 to settle at the level of 74,683.70 at the time of
The BSE Sensex soared by 454.67 points or 0.63 per cent to reach 72,186.09, while the NSE Nifty ended the day at 21,939.15, up by 167.45 points or 0.77 per cent. .
The Sensex opened 294.06 points higher at 69,584.29, while the Nifty opened 78.95 points up at 20,934.65. Among the Nifty companies, 33 witnessed advances, while 17 faced declines.
This surge was fuelled by the recent triumph of the ruling Bharatiya Janata Party (BJP) in state elections, coupled with robust domestic macroeconomic data and mounting expectations of a US rate cut in March.
The Sensex surged by an all-time high of 950.15 points to open at 68,435.34. Simultaneously, the Nifty also marked an all-time high gain of 334.6 points, opening at 20,601.95. Notably, 49 Nifty companies witnessed advances while only one experienced a decline.
According to a report by Morgan Stanley, the dichotomy between the rise in electric vehicle purchases and increased oil demand challenges conventional expectations.
Indian stock indices opened marginally in the red on Monday, with the benchmarks witnessing mild profit booking. Investors may have taken some money off the table after the indices hit their fresh highs last week.
Indian stock indices traded marginally higher Monday morning as various positive fundamentals including a firm GDP outlook, moderate inflation and strong purchases by foreign investors, prompted investors to place bets in the markets.
As temperatures throughout the world hit record highs, cities are experiencing unusual heat stress. Cities are often warmer and drier than surrounding rural terrain. However, in the Global South, there is an extra complicating factor: urban humid heat.