Shares of BSE rose 1.8% to an intraday high of Rs 2,533.70, while those of Angel One rose 1.4% to their intraday high of Rs 2,532.50.
Investor optimism was supported by positive market sentiment, as traders focused on strong fundamentals and favorable market conditions. The Nifty 50, which closely tracks the performance of the broader market, showed impressive resilience in today’s session.
This performance is due to recent market growth, supported by renewed investor confidence and economic optimism.
As the Nifty neared its all-time high set at 26,277.35 in September last year, traders remained optimistic about the prospects, especially on strong demand during the festive season and expectations of policy support in the coming months.
On the technical front, the Nifty index touched an intraday high of 26,099.70, showing steady upward momentum. Hopes surrounding a breakthrough in trade negotiations between India and the US have also buoyed market confidence. Reports indicate that the two countries may be nearing an agreement that would reduce tariffs on Indian exports to the US from around 50% to 15-16%. Market participants responded positively to this development, interpreting it as a potential boost for export-oriented sectors and domestic corporate profits. Market chatter intensified following comments from President Trump and Prime Minister Modi hinting at progress in the discussions.
Adding to the positive undertone was the turnaround in foreign institutional investment activity. After several months of sustained outflows, foreign institutional investors (FIIs) have reversed their stance and pumped in over Rs 1,385 crore into Indian equities so far this month.
This marks a significant shift from previous months, which saw net outflows of Rs 22,761 crore in September, Rs 41,908 crore in August and Rs 38,214 crore in July. The renewed inflows have improved sentiment and contributed to the rally in domestic benchmark indices.
As the Sensex rose to a level of 85,272.40, some 0.8% above its all-time high, it reflected continued investor optimism about India’s long-term economic growth and the strength of its capital markets.
Also read: Infosys shares rise 3% after promoters opt out of Rs 18,000 crore share buyback
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times
#BSE #Angel #shares #rise #Indian #markets #hit #record #highs