News Brief
Indian Stock Markets Touch New Highs: BSE Sensex Crosses 75,000 Mark For The First Time, Nifty Hits Record Peak Of 22,750
The BSE building
The BSE Sensex on Tuesday (9 April) surpassed the 75,000 mark for the first time, opening at 75,124.28, an increase of 382 points or 0.5 percent.
The Nifty 50 also set a new record, opening at 22,765.1, up from the previous session's 22,666.3.
This surge in the Indian stock markets is attributed to the anticipation of strong fourth-quarter earnings and a positive trend in the Asian markets.
The Sensex has shown significant growth over the years, having crossed the 25,000 mark in May 2014 and the 50,000 mark on 21 January 2021.
As of Tuesday morning, the total market capitalisation of BSE-listed companies reached 401.82 lakh crore.
Analysts point to various factors driving the market's performance, including robust corporate earnings expectations for the fourth quarter, favorable economic data from the United States, and declining oil prices, The Indian Express reported.
Meanwhile, in the United States, stock markets closed nearly unchanged as investors awaited inflation data and the commencement of the first-quarter earnings season.
Inflation concerns remain a focal point, with economists predicting a slight ease in the US consumer price index, although core inflation is expected to stay above the Federal Reserve’s target.
International factors, such as Middle Eastern tensions and ongoing supply concerns, have kept crude oil prices near a five-month peak.
