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Sensex surges to record high, crosses 78,164 mark

Wednesday 26 June 2024 05:05 AM UTC+00
The 30-share BSE Sensex climbed 134.64 points in early trade to hit a fresh all-time high of 78,188.16. The Nifty also rose by 28.2 points to 23,749.50. Despite early gains, both indices encountered volatile trends, oscillating between highs and lows as profit-taking emerged.
As we approach July, significant financial changes are on the horizon, affecting various facets of our economic landscape. From crucial Lok Sabha election results to impending income tax return deadlines and revisions in credit card policies, staying informed is paramount for making informed financial decisions. The ongoing Lok Sabha session will shape the political landscape, influencing economic policies and market sentiments. Simultaneously, taxpayers must prepare for the impending deadline for filing income tax returns, ensuring compliance, and avoiding penalties.
The benchmark indices for the stock market, Sensex and Nifty, ended at their new all-time high levels on Wednesday. This surge mirrored the rally seen among Asian markets and was bolstered by significant buying activity in Reliance Industries. The 30-share BSE Sensex saw a substantial increase, climbing by 620.73 points to close at a record high of 78,674.25. Throughout the trading session, the index experienced an impressive rise, peaking at an all-time intraday high of 78,759.40 with a rally of 705.88 points.
Yes Bank layoffs: Yes Bank has undertaken an internal restructuring exercise resulting in the layoff of 500 employees, with further layoffs expected in the coming weeks, according to media reports. The layoffs have affected personnel across various verticals, including wholesale and retail banking, with the branch banking segment experiencing a significant impact. According to reports, all the affected employees have been provided with three months' severance pay. This move comes at a time when most private lenders are expanding their workforce.
The 30-share BSE Sensex fell by 149.41 points to 78,524.84 after reaching an all-time high of 78,771.64 in early trading. Similarly, the Nifty dropped 47.45 points to 23,821.35. Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services, and Nestle experienced the most significant declines.
President Droupadi Murmu delivered her address to the joint session of Parliament today, emphasising that the government's mantra of "reform, transform, and perform" has yielded positive results. She highlighted the upcoming budget as a historical and futuristic document that will fast-track reforms and introduce far-reaching policies.
The BSE Sensex soared to an all-time high on Friday, jumping 243.15 points to reach 79,486.33 in the opening trade. The NSE Nifty followed suit, climbing 74.2 points to a record 24,118.7. Key large-cap stocks such as NTPC, Sun Pharma, Tech Mahindra, PowerGrid, and Tata Motors were among the biggest gainers, rising up to 1.63%.
India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India (RBI) said today (June 28). In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is at USD 655.817 billion achieved on June 7.
The Reserve Bank of India recently released the data on the personal loan segment suggesting that the housing loan outstanding has swelled at a faster rate on a year-on-year basis in May 2024. This comes as the personal loan segment has decelerated in the same period.
The Indian economy is poised for a potentially stable high-growth phase and is in a strong position despite significant risks, according to RBI's monetary policy committee member Shashanka Bhide. Speaking on Sunday, Bhide emphasised that the growth of income will support domestic demand, and the additions to production or supply capacity, reflected by high levels of investment spending over the last couple of years, will help sustain domestic economic activity's momentum. 
The benchmark indices for the stock market, Sensex and Nifty, ended at their new all-time high levels on Wednesday. This surge mirrored the rally seen among Asian markets and was bolstered by significant buying activity in Reliance Industries. The 30-share BSE Sensex saw a substantial increase, climbing by 620.73 points to close at a record high of 78,674.25. Throughout the trading session, the index experienced an impressive rise, peaking at an all-time intraday high of 78,759.40 with a rally of 705.88 points.
Yes Bank layoffs: Yes Bank has undertaken an internal restructuring exercise resulting in the layoff of 500 employees, with further layoffs expected in the coming weeks, according to media reports. The layoffs have affected personnel across various verticals, including wholesale and retail banking, with the branch banking segment experiencing a significant impact. According to reports, all the affected employees have been provided with three months' severance pay. This move comes at a time when most private lenders are expanding their workforce.
The 30-share BSE Sensex fell by 149.41 points to 78,524.84 after reaching an all-time high of 78,771.64 in early trading. Similarly, the Nifty dropped 47.45 points to 23,821.35. Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services, and Nestle experienced the most significant declines.
President Droupadi Murmu delivered her address to the joint session of Parliament today, emphasising that the government's mantra of "reform, transform, and perform" has yielded positive results. She highlighted the upcoming budget as a historical and futuristic document that will fast-track reforms and introduce far-reaching policies.
The BSE Sensex soared to an all-time high on Friday, jumping 243.15 points to reach 79,486.33 in the opening trade. The NSE Nifty followed suit, climbing 74.2 points to a record 24,118.7. Key large-cap stocks such as NTPC, Sun Pharma, Tech Mahindra, PowerGrid, and Tata Motors were among the biggest gainers, rising up to 1.63%.
India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India (RBI) said today (June 28). In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is at USD 655.817 billion achieved on June 7.
The Reserve Bank of India recently released the data on the personal loan segment suggesting that the housing loan outstanding has swelled at a faster rate on a year-on-year basis in May 2024. This comes as the personal loan segment has decelerated in the same period.
The Indian economy is poised for a potentially stable high-growth phase and is in a strong position despite significant risks, according to RBI's monetary policy committee member Shashanka Bhide. Speaking on Sunday, Bhide emphasised that the growth of income will support domestic demand, and the additions to production or supply capacity, reflected by high levels of investment spending over the last couple of years, will help sustain domestic economic activity's momentum. 
The Oil Marketing Companies on Monday announced a reduction in the prices of 19-kilogram commercial LPG cylinders across the country. The rates revised by Rs Rs 30 have come into effect with immediate effect. The retail sales price for a 19 kg commercial LPG cylinder now stands at Rs 1,646 in Delhi down from Rs 1676 previously.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 69.63 points to 79,102.36. Meanwhile, the Nifty was also up by 37.85 points to 24,048.45 points.
Yes Bank layoffs: Yes Bank has undertaken an internal restructuring exercise resulting in the layoff of 500 employees, with further layoffs expected in the coming weeks, according to media reports. The layoffs have affected personnel across various verticals, including wholesale and retail banking, with the branch banking segment experiencing a significant impact. According to reports, all the affected employees have been provided with three months' severance pay. This move comes at a time when most private lenders are expanding their workforce.
The 30-share BSE Sensex fell by 149.41 points to 78,524.84 after reaching an all-time high of 78,771.64 in early trading. Similarly, the Nifty dropped 47.45 points to 23,821.35. Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services, and Nestle experienced the most significant declines.
President Droupadi Murmu delivered her address to the joint session of Parliament today, emphasising that the government's mantra of "reform, transform, and perform" has yielded positive results. She highlighted the upcoming budget as a historical and futuristic document that will fast-track reforms and introduce far-reaching policies.
The BSE Sensex soared to an all-time high on Friday, jumping 243.15 points to reach 79,486.33 in the opening trade. The NSE Nifty followed suit, climbing 74.2 points to a record 24,118.7. Key large-cap stocks such as NTPC, Sun Pharma, Tech Mahindra, PowerGrid, and Tata Motors were among the biggest gainers, rising up to 1.63%.
India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India (RBI) said today (June 28). In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is at USD 655.817 billion achieved on June 7.
The Reserve Bank of India recently released the data on the personal loan segment suggesting that the housing loan outstanding has swelled at a faster rate on a year-on-year basis in May 2024. This comes as the personal loan segment has decelerated in the same period.
The Indian economy is poised for a potentially stable high-growth phase and is in a strong position despite significant risks, according to RBI's monetary policy committee member Shashanka Bhide. Speaking on Sunday, Bhide emphasised that the growth of income will support domestic demand, and the additions to production or supply capacity, reflected by high levels of investment spending over the last couple of years, will help sustain domestic economic activity's momentum. 
The Oil Marketing Companies on Monday announced a reduction in the prices of 19-kilogram commercial LPG cylinders across the country. The rates revised by Rs Rs 30 have come into effect with immediate effect. The retail sales price for a 19 kg commercial LPG cylinder now stands at Rs 1,646 in Delhi down from Rs 1676 previously.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 69.63 points to 79,102.36. Meanwhile, the Nifty was also up by 37.85 points to 24,048.45 points.
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crores at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7581 crores at the close of business on June 28, 2024, the RBI said on Monday (July 1). 97.87 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned. The Rs 2000 banknotes continue to be legal tender, the RBI added.
The 30-share BSE Sensex fell by 149.41 points to 78,524.84 after reaching an all-time high of 78,771.64 in early trading. Similarly, the Nifty dropped 47.45 points to 23,821.35. Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services, and Nestle experienced the most significant declines.
President Droupadi Murmu delivered her address to the joint session of Parliament today, emphasising that the government's mantra of "reform, transform, and perform" has yielded positive results. She highlighted the upcoming budget as a historical and futuristic document that will fast-track reforms and introduce far-reaching policies.
The BSE Sensex soared to an all-time high on Friday, jumping 243.15 points to reach 79,486.33 in the opening trade. The NSE Nifty followed suit, climbing 74.2 points to a record 24,118.7. Key large-cap stocks such as NTPC, Sun Pharma, Tech Mahindra, PowerGrid, and Tata Motors were among the biggest gainers, rising up to 1.63%.
India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India (RBI) said today (June 28). In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is at USD 655.817 billion achieved on June 7.
The Reserve Bank of India recently released the data on the personal loan segment suggesting that the housing loan outstanding has swelled at a faster rate on a year-on-year basis in May 2024. This comes as the personal loan segment has decelerated in the same period.
The Indian economy is poised for a potentially stable high-growth phase and is in a strong position despite significant risks, according to RBI's monetary policy committee member Shashanka Bhide. Speaking on Sunday, Bhide emphasised that the growth of income will support domestic demand, and the additions to production or supply capacity, reflected by high levels of investment spending over the last couple of years, will help sustain domestic economic activity's momentum. 
The Oil Marketing Companies on Monday announced a reduction in the prices of 19-kilogram commercial LPG cylinders across the country. The rates revised by Rs Rs 30 have come into effect with immediate effect. The retail sales price for a 19 kg commercial LPG cylinder now stands at Rs 1,646 in Delhi down from Rs 1676 previously.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 69.63 points to 79,102.36. Meanwhile, the Nifty was also up by 37.85 points to 24,048.45 points.
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crores at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7581 crores at the close of business on June 28, 2024, the RBI said on Monday (July 1). 97.87 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned. The Rs 2000 banknotes continue to be legal tender, the RBI added.
The Sensex surged by 443 points to close at a new all-time high of 79,476.19, while the Nifty climbed 131.35 points to end above the 24,100 mark at 24,141.95, hitting fresh lifetime highs on Monday. Major contributors to the rally included Tech Mahindra, UltraTech Cement, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, JSW Steel, Infosys, HDFC Bank, Tata Motors, and ICICI Bank. However, NTPC, State Bank of India, Larsen & Toubro, Sun Pharma, IndusInd Bank, and Axis Bank were among the laggards.
The 30-share BSE Sensex fell by 149.41 points to 78,524.84 after reaching an all-time high of 78,771.64 in early trading. Similarly, the Nifty dropped 47.45 points to 23,821.35. Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services, and Nestle experienced the most significant declines.
President Droupadi Murmu delivered her address to the joint session of Parliament today, emphasising that the government's mantra of "reform, transform, and perform" has yielded positive results. She highlighted the upcoming budget as a historical and futuristic document that will fast-track reforms and introduce far-reaching policies.
The BSE Sensex soared to an all-time high on Friday, jumping 243.15 points to reach 79,486.33 in the opening trade. The NSE Nifty followed suit, climbing 74.2 points to a record 24,118.7. Key large-cap stocks such as NTPC, Sun Pharma, Tech Mahindra, PowerGrid, and Tata Motors were among the biggest gainers, rising up to 1.63%.
India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India (RBI) said today (June 28). In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is at USD 655.817 billion achieved on June 7.
The Reserve Bank of India recently released the data on the personal loan segment suggesting that the housing loan outstanding has swelled at a faster rate on a year-on-year basis in May 2024. This comes as the personal loan segment has decelerated in the same period.
The Indian economy is poised for a potentially stable high-growth phase and is in a strong position despite significant risks, according to RBI's monetary policy committee member Shashanka Bhide. Speaking on Sunday, Bhide emphasised that the growth of income will support domestic demand, and the additions to production or supply capacity, reflected by high levels of investment spending over the last couple of years, will help sustain domestic economic activity's momentum. 
The Oil Marketing Companies on Monday announced a reduction in the prices of 19-kilogram commercial LPG cylinders across the country. The rates revised by Rs Rs 30 have come into effect with immediate effect. The retail sales price for a 19 kg commercial LPG cylinder now stands at Rs 1,646 in Delhi down from Rs 1676 previously.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 69.63 points to 79,102.36. Meanwhile, the Nifty was also up by 37.85 points to 24,048.45 points.
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crores at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7581 crores at the close of business on June 28, 2024, the RBI said on Monday (July 1). 97.87 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned. The Rs 2000 banknotes continue to be legal tender, the RBI added.
The Sensex surged by 443 points to close at a new all-time high of 79,476.19, while the Nifty climbed 131.35 points to end above the 24,100 mark at 24,141.95, hitting fresh lifetime highs on Monday. Major contributors to the rally included Tech Mahindra, UltraTech Cement, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, JSW Steel, Infosys, HDFC Bank, Tata Motors, and ICICI Bank. However, NTPC, State Bank of India, Larsen & Toubro, Sun Pharma, IndusInd Bank, and Axis Bank were among the laggards.
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