Sensex and Nifty Stood High for the Second Day; See who leads!
The Sensex and Nifty hit high of all time with Sensex jumping to 550 points and Nifty gaining above 21,300, amid US Federal meet's decision to unchanged the interest rates. Nifty Metal and IT sectors were the top sectoral gainers , rising 1 percent each.
![Sensex and Nifty Stood High for the Second Day; See who leads!](https://www.psuconnect.in/sdsdsd/sensex_and_nifty.jpg)
The positive outbreak of market shares funds with resilient features of Financial and IT sector companies reaching sky limits is surely marking a history for the nation. Some eminent PSU stocks are trailing on a good high wind and large-cap financials and IT are reasonably valued towards FII's favourite sectors.
The Nifty IT index soared 4 percent today led by TCS, Infy, HCL Tech. Market optimism strengthens on potential Fed pivot, falling US bond yields, and positive domestic trends in India. Expectations of a 2024 rate cut by the Federal Reserve, coupled with a recent drop in 10-year Treasury yields, are fueling a rally in equities, particularly in India, which benefits from the lower oil prices and an upgraded GDP forecast.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYA HISTORIC ACHIEVEMENT BY PNB MARKET CAP ABOUT HIGH STOCK MARKET POINTS;
PNB's market capital has surpassed the Rs. 1 lakh crore milestone in today's trade which makes it the third PSU bank to achieve this significant feat. It has emerged as a standout performer, showcasing remarkable resilience and performance and jumping to 2.33 percent, reaching a four-and-a-half-year high of Rs. 92 per share. At its highest price of Rs. 92, the market capitalisation of PNB reached Rs.1,01,292 crore.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsThe stock showed strength in four out of the last five months. The standout months were September, which saw a robust 27.03 percent gain, and July and November, with returns of 19.75 per cent and 6.30 per cent, respectively.
Meanwhile, another PSU bank, Bank of Baroda, also joined the Rs.1 lakh crore market capitalisation club on June 19, when its share value reached Rs.193.15 per share.
Read Also : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh