Sensex Breaks Historic 84,000 Mark, Boosts Investor Wealth by Rs 6.24 Lakh Crore

The BSE Sensex breached the historic 84,000-mark, closing 1,359.51 points higher and enhancing equity investor wealth by Rs 6.24 lakh crore. Market sentiment soared due to across-the-board buying, influenced by a US interest rate cut. Major gainers included Mahindra & Mahindra, JSW Steel, and ICICI Bank.

The BSE Sensex shattered records on Friday by breaking the 84,000-mark for the first time, ending the day 1,359.51 points higher, creating a buoyant market sentiment.

The 30-share benchmark jumped to an all-time high of 84,544.31, with an intra-day peak at 84,694.46. This surge added Rs 6.24 lakh crore, or USD 5.65 trillion, to the market capitalisation of BSE-listed firms.

Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, attributed the success to extensive buying spurred by a US interest rate cut, which led to lower Indian and US bond yields, making Indian financial assets more appealing.

Heavyweights like Mahindra & Mahindra, JSW Steel, and ICICI Bank were among the top gainers, while State Bank of India, IndusInd Bank, Tata Consultancy Services, and Bajaj Finance lagged.

Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd, noted the domestic equities rallied for the second consecutive day, supported by positive global cues after US jobless claims hit a four-month low.

Both the BSE smallcap gauge and midcap index saw significant climbs, rising 1.37 per cent and 1.16 per cent, respectively. Sector gains were led by the realty index (3.21 per cent), followed by capital goods, auto, and others.

Overall, 2,442 stocks advanced, 1,502 declined, and 115 remained unchanged on the BSE. On a weekly basis, the benchmark rose 1,653.37 points or 1.99 per cent.

(With inputs from agencies.)