Mumbai: Stock Market Indices Experience Volatility After Reaching Record Highs
The stock market benchmark indices experienced a notable climb in early trade on Wednesday, with the Sensex reaching a fresh all-time high. However, this upward trend was soon met with volatility, leading to a more stabilized trading environment as profit-taking emerged.
The 30-share BSE Sensex initially surged by 134.64 points, achieving a new all-time high of 78,188.16. Concurrently, the Nifty index rose by 28.2 points to reach 23,749.50.
Despite these early gains, both benchmark indices soon encountered fluctuating trends, trading between highs and lows throughout the session.
Significant gainers among the 30 Sensex companies included UltraTech Cement, ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank, NTPC, Bajaj Finance, and Tata Motors. Conversely, Mahindra & Mahindra, HDFC Bank, Tata Steel, and JSW Steel were among the notable laggards.
In the broader Asian markets, Seoul and Tokyo indices showed gains, while Shanghai and Hong Kong indices traded lower. The US markets closed mostly higher on Tuesday.
The global oil benchmark, Brent crude, saw an increase of 0.41%, reaching USD 85.36 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,175.91 crore on Tuesday.
On the previous trading day, the BSE benchmark surged by 712.44 points, or 0.92%, to close at a new peak of 78,053.52. Similarly, the Nifty increased by 183.45 points, or 0.78%, to settle at a record closing high of 23,721.30.
