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Breaking: Sensex Crosses 65,000, Nifty Smashes Record at 19,200

Continuing its upward trend for the fourth consecutive day, the BSE Sensex, comprising 30 major stocks, surged by 449.46 points, achieving a new record high of 65,168.02 in the initial trading session. Similarly, the NSE Nifty, representing the top 50 stocks on the National Stock Exchange, gained 128.95 points, hitting an all-time high of 19,318.
 
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Sensex Soars to 65,000-Mark, Nifty Sets New Record at 19,200
 

Mumbai: The benchmark equity indices extended their impressive run on Monday as the BSE Sensex surpassed the historic milestone of 65,000 points for the very first time. This remarkable surge was driven by positive trends in global markets and increased foreign investments. On the back of its fourth consecutive day of gains, the 30-share BSE Sensex soared by 449.46 points, reaching an all-time high of 65,168.02 during early trading. The NSE Nifty also experienced a notable climb, adding 128.95 points to achieve a lifetime peak of 19,318.

Among the top performers within the Sensex pack were HDFC, HDFC Bank, Mahindra & Mahindra, UltraTech Cement, Tata Steel, Bajaj Finance, State Bank of India, Reliance Industries, Bajaj Finserv, and ICICI Bank, as they registered significant gains during this period.

Power Grid, Maruti, Tech Mahindra, IndusInd Bank, HCL Technologies, and Axis Bank experienced a decline in their stock performance.

Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, showed positive trading activity.

The US markets concluded the week with substantial gains on Friday.

The global oil benchmark, Brent crude, experienced a minimal decrease of 0.01%, settling at USD 75.41 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth ₹6,397.13 crore on Friday.

The Finance Ministry announced that Goods and Services Tax (GST) collections in June exceeded ₹1.60 lakh crore, marking the fourth time since the implementation of the indirect tax system. The collections grew by 12% to over ₹1.61 lakh crore.

On Friday, the BSE benchmark surged by 803.14 points or 1.26% to reach a new all-time closing high of 64,718.56. Similarly, the Nifty rose by 216.95 points or 1.14%, ending at a record high of 19,189.05.

V K Vijayakumar, the Chief Investment Strategist at Geojit Financial Services, attributed the ongoing global stock market rally to the unexpectedly strong performance of the US economy, with a 2% GDP growth in Q1 2023. He mentioned that the markets are compensating for the overly pessimistic expectations of a US recession by mid-2023.

Vijayakumar highlighted that sustained Foreign Portfolio Investor (FPI) inflows, amounting to Rs 47,148 crore in June, are the primary catalyst behind the rally in India.