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BusinessIndian stock indices hit new highs on positive Q4 outlook

Indian stock indices hit new highs on positive Q4 outlook


The benchmark stock indices in registered strong gains on Tuesday, rising to fresh record levels as positive fourth quarter earnings outlook supported investor sentiment.

The S&P BSE Sensex index breached the psychological 75,000-point mark for the first time ever, marking an increase of over 0.5%. Meanwhile, the broader Nifty 50 index on the Stock Exchange opened above the 22,700-level to reach a new all-time peak.

Robust corporate results expected for the January-March period along with strong macroeconomic data from key global markets buoyed market mood. Easing crude oil prices lately have also contributed to improving risk appetite.

Among sectoral indices, the Nifty Bank index touched a record high, surpassing the 48,800-level during the initial hours of trade on Tuesday.

Several blue-chip companies witnessed healthy buying interest. Shares of Infosys, Apollo Hospitals, Mindtree, Tech Mahindra and Adani Ports were the top gainers.

With the positive momentum, the combined market cap of all listed companies on the BSE has crossed the ₹400 trillion mark, continuing its northward trajectory. Analysts remain optimistic about the markets sustaining the gains in the near future as well.

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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