Sensex Hits New High: A Deep Dive into Unstoppable Growth

Stock markets continued their winning streak for the seventh consecutive day, with the BSE Sensex closing above 80,000 for the first time in four months due to strong performances in IT and auto sectors. Foreign fund inflows and optimistic global trends further bolstered market sentiment, despite a sell-off in banking shares.

Riding high on bullish trends, the Indian stock market extended its winning streak into a seventh day. The BSE Sensex surged 520 points, closing above the 80,000 mark for the first time since December, buoyed by robust growth in IT and automobile stocks.

Significant gains were seen in major companies like HCL Tech, which soared by 7.72% following an impressive 8.1% uptick in quarterly net profits. Despite the overall positive market sentiment bolstered by foreign fund inflows and global trends, banking shares faced a downward trajectory amid profit-booking.

Foreign Institutional Investors continued to express confidence, injecting Rs 1,290.43 crore into the market. Meanwhile, easing US-China trade tensions and a rally in US tech stocks contributed positively to the global market outlook, further amplifying the buoyant mood.

(With inputs from agencies.)