News Brief
Indian Stock Markets Soar To Record Highs: BSE Sensex Touches 80,000 Mark For First Time, Nifty Hits Fresh Lifetime High
Kuldeep Negi
Jul 03, 2024, 09:51 AM | Updated 09:51 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
![BSE Building in Mumbai. (Wikimedia Commons)](https://swarajya.gumlet.io/swarajya/2023-11/c4097a03-c0fe-4caf-875e-1eff035c33f7/800px_BSE_building_at_Dalal_Stre.jpg?w=640&q=75&auto=format,compress&format=webp)
The Indian share market opened to record highs on Wednesday (3 July), driven by a significant surge in HDFC Bank, the nation's leading private lender.
This rise was fuelled by expectations of an increased weightage of the private lender in a crucial global index.
As of 9.15 am, the NSE Nifty 50 climbed 0.7 per cent to 24,291.75 points, while the S&P BSE Sensex advanced 0.72 per cent to reach 80,013.77 points, NDTV reported.
This marks the first occasion that the 30-stock Sensex has breached the 80,000 threshold.
HDFC Bank led the gains, opening 3.5 per cent higher and significantly contributing to the Nifty 50's performance.
Data released post-market hours on Tuesday indicated that foreign institutional investors' shareholding in HDFC Bank fell below 55 per cent in the June quarter.
This drop heightens the possibility of an increased weightage in Morgan Stanley's MSCI indexes.
Analysts suggest that inflows into HDFC Bank could further uplift the benchmarks, as it remains the heaviest weighted stock in both the Nifty and Sensex.
All 13 major sectors recorded gains, with the rise in HDFC Bank propelling banks, financials, and private banks to increase by 1.3 per cent-1.5 per cent.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Kuldeep is Senior Editor (Newsroom) at Swarajya. He tweets at @kaydnegi.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.