• ftr-facebook
  • ftr-instagram
  • ftr-instagram
search-icon-img

Sensex and Nifty50 Reach Record Highs in Friday's Market Surge

On Friday, the Indian stock market experienced a significant surge, with the BSE Sensex witnessing a remarkable spike of over 1000 points during the early trading hours. This surge propelled the Sensex to reach its all-time high at 11:45 am,...
featured-img

On Friday, the Indian stock market experienced a significant surge, with the BSE Sensex witnessing a remarkable spike of over 1000 points during the early trading hours. This surge propelled the Sensex to reach its all-time high at 11:45 am, marking a momentous milestone in the market's trajectory.

Specifically, on March 1, the Sensex soared by approximately 1,055 points, touching a record high of 73,574 points. This surge coincided with a similar milestone for its NSE counterpart, the Nifty50, which crossed the 22,300 mark for the first time in its history.

Market Capitalization Growth

The substantial rally in the BSE index, particularly the 1000-point surge, resulted in a significant spike in the market capitalization of all listed companies. On Friday morning alone, the market capitalization grew by a staggering Rs. 3.23 lakh crore.

As a result, the overall market value of all Sensex-listed companies now stands at Rs. 391.18 lakh crore, reflecting buoyant sentiment and investor confidence in the Indian market.

Economic Growth Driving Factors

A key catalyst behind Friday's stock market rally is India's robust economic growth, which surpassed 8.4 percent in the quarter ending December 2023. This growth rate represents the highest recorded over the last six quarters and underscores the resilience and strength of the Indian economy.

The surge in Gross Domestic Product (GDP) was primarily fueled by strong private-sector investment and a notable uptick in services spending. Moreover, GDP figures for the previous two quarters were also revised upward, further bolstering investor sentiment.

Global Market Influence

The rally in the Sensex and Nifty was not solely driven by domestic factors but also influenced by a spike in global markets, particularly in the United States and Asian stock indices. Wall Street, Nasdaq, and Japan's Nikkei exhibited stellar growth in the preceding session, contributing to the positive momentum seen in Indian markets.

stock market

The synchronized uptrend across major global indices added to the optimism among investors and propelled the Indian stock market to new highs.

Read also: Testing Disaster Preparedness: NSE and BSE Plan Special Live Trading Sessions on Saturday

OTT India updates you with the latest news, Country’s no.1 digital news platform OTT India, Keeps you updated with national, and international news from all around the world. For more such updates, download the OTT India app on your Android and IOS device.

.

tlbr_img1 Home tlbr_img2 Shorts tlbr_img3 Video tlbr_img4 Webstories