Benchmark equity indices Sensex and Nifty hit their new all-time peaks in early trade on May 27 in tandem with a rally in global markets and optimistic investors’ sentiment days ahead of the results of the Lok Sabha polls announcement.
The 30-share BSE Sensex climbed 269.28 points to an all-time peak of 75,679.67 in early trade. The NSE Nifty went up by 86.1 points to hit a new lifetime high of 23,043.20.
Key Gainers: From the Sensex firms, Tata Steel, Bharti Airtel, JSW Steel, Kotak Mahindra Bank, Sun Pharma, Axis Bank, and HDFC Bank were among the major gainers. Their strong performance contributed significantly to the indices’ new highs, reflecting positive market sentiment and robust investor confidence in these companies’ prospects.
Lagging Stocks: On the flip side, Wipro, Mahindra & Mahindra, Maruti, and Asian Paints were among the laggards. Despite the overall positive market trend, these stocks faced some selling pressure, impacting their performance in early trade.
Global Market Influence: In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the positive territory, which also bolstered the domestic market sentiment. The rally in global markets played a crucial role in driving the Sensex and Nifty to their new peaks, showcasing the interconnected nature of global financial markets.
Investor Sentiment: The upbeat investor sentiment is attributed to the anticipation of favorable outcomes from the upcoming Lok Sabha polls announcement. Market participants are optimistic about the political stability and policy continuity, which are seen as positive factors for the economic and business environment.
The new all-time highs for Sensex and Nifty underscore the buoyant mood in the equity markets, driven by both global trends and domestic factors. As the Lok Sabha poll results approach, investors will be closely watching the developments to gauge the future trajectory of the markets.
