Explained: Why Sensex, Nifty hit all-time highs today

1 year ago 31

Stock market analysts attributed today's gains on Dalal Street to increased optimism among investors ahead of Q4 results.

Metal and energy stocks were key contributors behind the surge witnessed in benchmark indices.

New Delhi,UPDATED: Apr 8, 2024 10:27 IST

Benchmark stock market indices surged in early trade on Monday, with the S&P BSE Sensex and NSE Nifty50 hitting all-time highs.

The 30-share Sensex rose to a fresh high of 74,673.84 in early trade, while the Nifty hit an all-time high of 22,630.90.

Today’s rise can be attributed to several factors, including a rise in energy and metal stocks and a nearly 2% surge in shares of Reliance Industries Limited.

However, the key reason behind the rise seems to be the anticipation and optimism surrounding upcoming Q4 results.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd said said, "Optimism prevails on Dalal Street as investors prioritize the anticipation of strong Q4 corporate profits in India over the Fed's rate-cut plans."

Published By:

Koustav Das

Published On:

Apr 8, 2024

Article From: www.indiatoday.in

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