Sensex soars 1,359 pts to settle above historic 84,000 mark; banks shares shine in global rally
The Hindu
Sensex closes above 84,000 for the first time, Nifty hits record high, driven by bank stocks and global trends.
Benchmark Sensex closed above the historic 84,000-mark for the first time while Nifty settled at a new record high on Friday (September 20, 2024), powered by a rally in frontline bank stocks along with upbeat trends in the U.S. and Asian markets.
The 30-share Bombay Stock Exchange (BSE) Sensex jumped 1,359.51 points, or 1.63%, to settle at an all-time high of 84,544.31. During the day, it soared 1,509.66 points, or 1.81%, to hit the momentous intra-day peak of 84,694.46.
The National Stock Exchange (NSE) Nifty surged 375.15 points, or 1.48%, to close at a record 25,790.95 level. During the day, the gauge zoomed 433.45 points or 1.70% to reach an all-time intra-day peak of 25,849.25.
From the 30 Sensex firms, Mahindra & Mahindra jumped over 5%. JSW Steel, ICICI Bank, Larsen & Toubro, Bharti Airtel, Nestle, Adani Ports, Hindustan Unilever, HDFC Bank, Tech Mahindra, Maruti, Kotak Mahindra Bank, and Tata Steel were the other big gainers.
State Bank of India, IndusInd Bank, Tata Consultancy Services, and Bajaj Finance were the laggards.
“The Indian market has joined the rally following the 50-bps Fed rate cut and super accommodative monetary policy. It is expected to bring positivity to the economy and foreign inflows in the short to medium-term as the global economy continues to be robust,” Vinod Nair, Head of Research, Geojit Financial Services, said.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled in the green. Equity markets in Europe were quoting lower. The U.S. markets ended remarkably higher on Thursday (September 19, 2024).
1.2L Turbocharged iTurbo Revotron engine and a twin-cylinder iCNG technology paired with an AMT gearbox.
The Passenger Vehicle PV) segment clocked its highest-ever sales in a calendar year 2025 (CY25) at 44.90 lakh units, growing 5% Year on Year (YoY) driven by Q3 offtake, according to the data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.
Human + AI will define the future of work and nearly all HR leaders (97%) anticipate that by 2027, the nature of work will be shaped by humans working alongside AI rather than engaging with it only intermittently, said a Nasscom study conducted in association with Indeed, a US-based job site.
Central bankers express unity with Fed Chair Powell, emphasizing the importance of central bank independence amid political pressures.
Rice exporters urge India's Commerce Ministry for assistance in clearing payments amid Iran's civil unrest impacting trade.
PFRDA forms an expert committee to create a framework for assured payouts under the National Pension Scheme (NPS).
Petroleum Minister Hardeep Puri discusses LNG, LPG, and green hydrogen cooperation with British Columbia's Premier to enhance India-Canada energy partnership.
Rupee falls 4 paise to 90.21 against the dollar due to rising crude prices and geopolitical tensions.
Indian markets fell amid foreign fund outflows and profit-booking in blue chips, influenced by global tariff concerns and weak earnings.
Himachal CM Sukhu vows to address apple import duty concerns to protect local growers' livelihoods amid New Zealand trade changes.
India drops to third in Russian fossil fuel imports in December, as Reliance cuts crude purchases, totaling €2.3 billion.
Meta plans to cut around 10% of the employees in its Reality Labs division who work on products including the metaverse, the New York Times reported
Trump's Iran tariff threat poses limited risk to India's trade, affecting only select sectors like rice and fresh fruits.