Sensex crosses 75,000 mark for first time
The Indian stock market reached a significant milestone on Tuesday as Sensex surpassed the 75,000 mark for the first time. Sensex, a 30-share index, opened at a record-breaking 75,124.28 after an increase of 381.78 points or 0.51%. Concurrently, the NSE's Nifty 50 also surged to an all-time high of 22,765.10 following a rise of 98.8 points or 0.44%.
Market surge fueled by heavyweight stocks
The upward trend in the market was driven by gains in heavyweight stocks such as Infosys, Bajaj Twins, Maruti Suzuki and HDFC Bank. Approximately 1,622 shares advanced while only 589 declined. Deepak Jasani from HDFC Securities noted that Nifty formed a "higher top higher bottom formation" compared to previous sessions and predicted it to remain within the range of 22,529-22,810 for the near term.
Broader markets and sector performances
The broader markets also experienced an uptick with Nifty Midcap 100 and Nifty Smallcap 100 indices outperforming frontline indices by up to 0.4%. In terms of sectors, Nifty IT and Nifty Realty were the day's top performers. Infosys led gains in the IT sector after receiving an upgrade from 'neutral' to 'buy' from global brokerage firm BofA. Sobha and Godrej Properties drove gains in the Realty sector, with Godrej reporting a record-breaking year-on-year growth of 135% in Q4FY24 sales.
