Nifty surpasses 25,000 mark for the first time
Nifty has surpassed the significant 25,000 milestone while Sensex breached the 82,000 level, both for the first time. This positive market response is attributed to the dovish commentary from the US Federal Reserve and indications of a potential rate cut in September. At 10:00am today, the Sensex had risen by 270 points to reach 82,005, while Nifty had surged by 101 points to trade at 25,049. Nifty took only 24 trading sessions to rise from 24,000 to 25,000.
Market expert's view on US rate cut
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, has expressed that the US Federal Reserve Chair Jerome Powell's hint of a possible rate cut in September is a positive development for global equity markets. He also found Powell's remarks about the normalization of the US economy to be encouraging for market bulls.
Sector-wise performance and individual stock gains
On Thursday, about 1,916 shares advanced, 589 declined, and 126 shares remained flat. The midcap and smallcap index also continued the uptrend, rising 0.3% and 0.5%, respectively. Except for Nifty IT, all sectoral indices were trading in the green. Maruti Suzuki, Hindalco, JSW Steel, Coal India and ONGC were among major gainers on the Nifty, while Hero MotoCorp, UltraTech Cement, Infosys, Sun Pharma and Asian Paints were among the notable losers.
