GG News Bureau
Mumbai, 5th Dec. Share markets have opened at a record high in India, with the Sensex crossing 69,000 for the first time. This comes as the ruling party in India won state elections, boosting confidence in the domestic markets.
The NSE Nifty 50 index rose by 0.52% to 20,794.50 points, while the S&P BSE Sensex increased by 0.50% to 69,204.10.
Banks and public sector banks saw gains of 0.7% and 1.3% respectively. Financials and large-caps are expected to rally ahead of the 2024 general elections.
Foreign portfolio investors have been consistent buyers in the market, reversing their selling strategy.
HDFC Bank, ICICI Bank, Axis Bank, and State Bank of India all saw gains. Oil & gas stocks also rose, with Brent Crude futures stabilizing near $78 per barrel.
Bharat Petroleum Corp was among the top gainers.
Small- and mid-caps hit fresh record highs, and Adani Group stocks continued their rally.
Wall Street equities retreated ahead of key U.S. labor market data, while Asian markets remained subdued.