Nifty touches new 14-month high, stock market rebounds to normal; investors cheer

Mumbai (The Uttam Hindu): The stock market created new history today. The market, which had been trading below its record high since September of last year, reached new highs today. The Nifty 50 rose nearly 90 points to 26,295.55, its all-time high. The previous record for the Nifty was 26,277.35. The Sensex also surged, gaining 300 points to trade at 85,912.94, although it has yet to reach its record high.

The stock market returned to its normal state, with Nifty hitting a record high after 14 months; investors were delighted: Out of 30 major BSE stocks, 19 are seeing gains and 11 are seeing losses. Bajaj Finance and Bajaj Finserv are the strongest performers, while Zomato and Kotak Mahindra Bank are weak. Among sectors, except PSU banks, consumer and oil-gas, all other sectors are seeing good gains.

Shares of Ganesh Housing and Patel Engineering rose more than 10 percent. Tata Tele (Maha) and Gillette India gained 5 percent, while Tejas Networks gained more than 4 percent. Tata Power, Bajaj Finance, and Shriram Finance also gained around 1.5 percent.

Out of 3,321 stocks on the BSE, 1,853 are trading higher, while 1,262 are trading lower. 60 stocks have hit their 52-week highs, while 53 have hit their lowest levels. 85 stocks have hit the upper circuit and 60 have hit the lower circuit. The market also witnessed a strong rally on Wednesday, with the Nifty rising 300 points and the Sensex 1,000 points. Investors' wealth increased by Rs 5.50 lakh crore in a single day.