Sensex Crosses 85,000 Points For The First Time, Nifty Also At Record High As Indian Stock Market Continues Bull Rally

For the first time, the Sensex has surged past 85,000 points, continuing a record-breaking streak in the Indian stock market, driven by gains in the steel and automotive sectors.

Among the top performers in the 30-share Sensex were Tata Steel, JSW Steel, and Powergrid, while Hindustan Unilever, Infosys, and Bajaj Finance were among the laggards.

Meanwhile, the Nifty is approaching the 26,000-point mark, with both indices reaching historic highs. Yesterday, the Nifty 50 hit a record high of 25,956 points before settling at 25,934, up 0.55 per cent. 

The rapid ascent from 80,000 to 85,000 points took less than 11 weeks. The recent rise comes after Federal Open Market Committee (FOMC) decided to lower the Fed funds rate by 50 basis points.

Historically, India’s equity markets have performed well for three to six months following a rate cut in a non-recessionary environment. The surge is also attributed to strong Foreign Portfolio Investor (FPI) inflows.