How Markets Soared: Sensex Crosses 78,000, Nifty Breaks 23,700 Milestone, Book Profits Today
How Markets Soared: Sensex Crosses 78,000, Nifty Breaks 23,700 Milestone, Book Profits Today
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Sensex Surpasses 78,000 Mark; Nifty Breaks 23,700 Milestone: On Tuesday, June 25, the stock markets closed on a high note. The Sensex reached 78,053.52, up by 712.44 points or 0.92%, while the Nifty hit 23,721.30, rising by 183.45 points or 0.78%, both achieving new lifetime highs. During the day, the Sensex surged over 600 points, reaching 78,164.71 for the first time, and the Nifty crossed the 23,700 mark.

The Bank Nifty also made history, surpassing the 52,500 mark, showcasing robust momentum in the banking sector. Ajay Bagga, a banking and market expert, noted, "Private banks led the Sensex and Nifty rally, although real estate stocks faced corrections."

Several sectoral indices saw gains, including Banking, Financial Services, IT, PSU Banks, and Private Banks. However, FMCG, Auto, Media, Metal, Pharma, Reality, Healthcare, Consumer Durables, and Oil and Gas sectors closed in red at the National Stock Exchange (NSE). On the BSE, banking stocks like Axis Bank, ICICI Bank, and HDFC Bank experienced significant surges.

Top gainers of the day included L&T, SBI, Tech Mahindra, Bajaj Finserve, Infosys, and UltraTech Cement. Conversely, companies such as BPCL, Tata Steel, Power Grid, Asian Paints, NTPC, Adani Ports, SEZ, Nestle India, Maruti Suzuki, and Bharti Airtel were among the losers on the Sensex.

The market opened positively on Tuesday, with the Sensex starting at 77,507.32, up by 166.24 points, and Nifty opening at 23,579.40, up by 41.55 points. Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented, "Among sectors, Banking and Financial indices outperformed, both rallying over 1%, while the Realty index dropped nearly 2%. After a strong opening, the market maintained its positive momentum throughout the day."

On the international front, European stocks fell due to a significant drop in chipmaker Nvidia, affecting U.S. tech firms and raising concerns in the AI sector. Despite this, global stock markets remained near all-time highs as investors opted for less volatile equities.

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