Sensex, Nifty hit fresh peaks

Mumbai: Benchmark equity indices Sensex and Nifty climbed over two per cent to settle at record high levels on Friday after the Reserve Bank of India (RBI) revised upwards the GDP growth projection to 7.2 per cent for 2024-25 from 7 per cent earlier.

The 30-share BSE Sensex jumped 1,720.8 points, or 2.29 per cent, to hit a new record peak of 76,795.31 in day trade. The benchmark ended at a record high of 76,693.36, up 1,618.85 points, or 2.16 per cent. The NSE Nifty climbed 498.8 points, or 2.18 per cent, to 23,320.20 during the day and is just 18.5 points from the record intraday high.

The index settled with a jump of 468.75 points, or 2.05 per cent, at all-time closing high of 23,290.15. IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.

As many as 2,890 stocks advanced, while 970 declined and 92 remained unchanged on the BSE. “The anticipation of stability within the coalition government at the centre, coupled with the RBI’s upward revision of its growth forecast for FY25 to 7.2 per cent, fuelled a broad-based rally in the domestic market. The Indian market surpassed its previous record high set on exit-poll day and reached a fresh peak,” said Vinod Nair, head (research), Geojit Financial Services.