A Day After Budget 2024, Nifty Hits All-Time High Level, Sensex Skyrockets 1,444 Points

A day after the presentation of Interim Budget 2024, domestic benchmark equity indices shot up on Friday with the Nifty hitting its all-time high of 22,126.80 during the day tracking a rally in global markets. The BSE Sensex skyrocketed 1,444.1 points to 73,089.40 on buying in Reliance Industries Ltd, Infosys and ICICI Bank.

In the afternoon trade at around 12 pm, the Nifty jumped 429.35 points to record 22,126.80. The 30-share BSE Sensex climbed 1,444.1 points to 73,089.40. It is 338.19 points away from its lifetime peak of 73,427.59.

Among the Sensex firms, Power Grid, NTPC, Infosys, Tata Consultancy Services, Tech Mahindra, Wipro and Reliance Industries were the major gainers during the afternoon trade. HDFC Bank, Hindustan Unilever, Axis Bank and Titan were the laggards.

In Asian markets, Seoul and Tokyo were trading in the positive territory while Shanghai and Hong Kong quoted in the red. The US markets ended with significant gains on Thursday.

“The bull market at Dalal Street is thriving, fuelled by positive developments such as Wall Street’s surge, a 3 per cent drop in WTI oil prices, and the promising interim Union Budget,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. The Sensex declined 106.81 points or 0.15 per cent to settle at 71,645.30 on the Budget day on Thursday. The Nifty dipped 28.25 points or 0.13 per cent to 21,697.45.

Global oil benchmark Brent crude climbed 0.42 per cent to $79.03 a barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,879.58 crore on Thursday, according to exchange data.

(With PTI Inputs)