In a strong start to the trading day on March 7, the benchmark indices, Sensex and Nifty, reached new record peaks propelled by positive global trends and increased foreign fund inflows. The 30-share BSE Sensex rose by 159.18 points, hitting an all-time high of 74,245.17, while the Nifty climbed 49.6 points to reach 22,523.65.
However, market dynamics later turned volatile, with both benchmark indices experiencing fluctuations between highs and lows. Notable gainers among the Sensex companies included JSW Steel, Tata Steel, Bajaj Finance, Bajaj Finserv, Asian Paints, and State Bank of India. On the other hand, Mahindra & Mahindra, Infosys, Axis Bank, and ICICI Bank were among the laggards.
While Asian markets such as Seoul, Tokyo, Shanghai, and Hong Kong were trading lower, the U.S. markets closed positively on Wednesday. Foreign Institutional Investors (FIIs) demonstrated optimism by purchasing equities worth ₹2,766.75 crore on the same day, as per exchange data.
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted key trends in the market, including the outperformance of large caps over mid and small caps, the strengthened position of Bank Nifty led by private sector majors, and the impact of regulatory actions on certain NBFCs, influencing sentiments in the entire NBFC space while enhancing confidence in high-quality private banking.
The Indian market’s ability to maintain record highs reflects positive investor sentiment, driven by both domestic and global factors, and heightened interest from foreign investors.
