Sensex crosses 80,000 for the first time, Nifty nears 24,500, which stocks did wonders! – stock market updates Sensex scales 80,000 for the first time; Nifty near 24,300 – 2024-07-05 05:11:41

2024-07-05 05:11:41
New Delhi: The stock market reached new heights today on the back of a surge in the shares of the country’s largest private lender HDFC Bank. The BSE Sensex has crossed 80,000 points for the first time while the Nifty has reached close to 24,300 points. HDFC Bank’s stock reached record levels on expectations of an increase in weightage in an important global index. In early trade, the Sensex rose 570 points to a record level of 80,039 points. The Nifty50 index rose 169 points to 24,292 points. The highest rise in Sensex shares was seen in HDFC Bank. It rose nearly three percent to a new record of Rs 1,791.90. Along with this, Kotak Bank, Bajaj Finance, Bajaj Finserv and M&M gained while Tech Mahindra, TCS, Sun Pharma, Infosys and Bharti Airtel declined. Britannia, ICICI Bank and Axis Bank gained the most on NSE while Tata Motors and UltraTech Cement declined. Talking about broader indices, the midcap index rose 0.53 percent while the smallcap index rose 0.68 percent. Talking sectorwise, except for the Nifty IT index, all others are seeing a rise. Nifty Financial Services, Nifty Private Bank, Nifty FMCG and Nifty Metal have gained the most. The shareholding of foreign institutional investors in HDFC Bank has come down to less than 55 percent. Analysts say that this is expected to increase MSCI inflows. Currently, the bank’s weight in the MSCI EM index is around 3.8 percent. But due to the reduction in FII holding in the bank, it is expected to increase.