Historic Milestone: Sensex Breaches 79,000 Mark Amid Record-Breaking Rally

The market capitalization of BSE-listed firms soared to an all-time high of Rs 438.41 lakh crore as the Sensex breached the 79,000 mark for the first time. The surge, driven by key sectors like banking and telecom, also boosted the Nifty to a record high.

The market capitalisation of BSE-listed firms soared to an all-time high of Rs 438.41 lakh crore on Thursday, driven by an unprecedented rally in equities as the Sensex breached the historic 79,000 mark for the first time.

Rallying for the fourth consecutive day, the 30-share BSE Sensex surged by 568.93 points or 0.72 per cent to close at a new peak of 79,243.18. During intraday trading, it rocketed 721.78 points or 0.91 per cent, reaching a new lifetime high of 79,396.03. In just four trading days, the BSE benchmark jumped 2,033.28 points or 2.63 per cent.

The market capitalization of BSE-listed firms hit a lifetime high of Rs 4,38,41,960.73 crore (USD 5.25 trillion), with investors' wealth increasing by Rs 3.93 lakh crore in just four sessions. Noteworthy, it took the BSE benchmark merely two sessions to move from the 78,000 level achieved on June 25 to surpass the 79,000 mark by June 27.

The Nifty also ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74 per cent. Intra-day, it climbed 218.65 points or 0.91 per cent to attain an all-time peak of 24,087.45. The Nifty had previously crossed the 23,000 mark on May 24 this year.

UltraTech Cement was among the top gainers, with the stock jumping 5 per cent following its announcement to acquire a 23 per cent stake in India Cements Ltd., estimating the deal at Rs 1,885 crore. Other major gainers included NTPC, JSW Steel, Tata Motors, Infosys, Tata Consultancy Services, Kotak Mahindra Bank, and Bharti Airtel. Conversely, Larsen & Toubro, Sun Pharma, Nestle, HDFC Bank, Maruti, and State Bank of India were among the laggards.

Trivesh D, COO at Tradejini, noted, 'The Sensex surpassing 79,000 marks a historic milestone reflecting healthy investor confidence and strong fundamentals in key sectors like banking and telecom.' He added, 'It took only 23 sessions to climb from 23,000 to 24,000, compared to 88 sessions previously.' Vinod Nair, Head of Research at Geojit Financial Services, highlighted that 'the benchmark indices exhibited bullish momentum buoyed by an expected revival in the IT sector and consolidation in the cement industry.'

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