Nifty and BSE Sensex reached their all-time highs during the last session of the previous week.
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Are you interested in investing in the stock market or planning to do so in the future? Well, it might be a good time to consider some alternatives, as the NSE Nifty and BSE Sensex almost reached their all-time highs during the last session of the previous week.
The Nifty came very close to its highest point ever, falling less than 61.6 points short of reaching 18,887.6. Meanwhile, the BSE Sensex finished at 63,384 levels, just 199 points away from its own record of 63,583 levels. This marks the fourth consecutive week of gains for these benchmark indices.
Trading on Friday started off on a positive note, with the Nifty opening 35 points higher than the previous close. However, it traded within a narrow range during the first half of the day. The second half saw a surge in the index, reaching an intra-day high of 18,864.70.
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The combined market value of all the listed companies on the BSE has increased by ₹2.03 lakh crore, reaching a record high of ₹292.8 lakh crore. Small-cap and mid-cap stocks continue to perform well, with the mid-cap index achieving a new closing record.
On the other hand, some companies like Paytm and Zomato have experienced a decline in their share prices, as SoftBank may sell its stakes in the open market. The three leading performers in the Nifty were HDFC Life, which saw a growth of 5.9%, followed by SBI Life with a 3.2% increase, and Bajaj Finserv with a rise of 2.4%.
Despite indications from the US Federal Reserve about potential rate hikes in the future, Indian economists observed that the market seemed to have ignored negative global sentiments and instead focused on local factors.
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