Stock Market: Sensex, Nifty Open in Green; Nifty hits 25,000 Mark
Power Grid Corp, Coal India, Syngene International Ltd, TVS Motor and ONGC were the top gainers on the Nifty.
On Thursday, August 1, 2024, the Nifty 50 index reached 25,000 for the first time. It took 221 trading days to go from 20,000, which it hit on September 11, 2023. The recent rise was driven by auto, metal, and oil marketing companies. Experts think the next rise to 30,000 will be led by banks and other sectors that haven't grown much yet. In 2024, the Nifty 50 has risen nearly 15%.
Experts say global events, the US election, and interest rates will impact stock markets. Markets expect a US Fed rate cut in September, but any surprise could cause a market correction.
Sensex climbed over 388 points, and the Nifty rallied 127 points. The BSE Sensex opened 0.47% higher at 82,129.49, while the NSE Nifty opened 0.50% higher at 25,078.30.
Power Grid Corp, Coal India, Syngene International Ltd, TVS Motor and ONGC were the top gainers on the Nifty.
Birlasoft, Dixon Technologies Ltd., Indiamart Intermesh Ltd., ACC, and M&M were the top losers.
Indian Indices
| Index | Price |
NIFTY 50 | 25019.90 |
SENSEX | 81889.06 |
NIFTY BANK | 51746.85 |
NIFTY IT | 40836.10 |
BSE SMALLCAP | 55340.92 |
Top Gainers
| Company | Price |
Power Grid Corp | 359.75 |
Coal India | 538.00 |
Syngene International Ltd. | 829.55 |
TVS Motor | 2,595.20 |
ONGC | 341.95 |
Top Losers
| Company | Price |
Birlasoft | 652.40 |
Dixon Technologies Ltd. | 11,696.45 |
Indiamart Intermesh Ltd. | 2,853.50 |
ACC | 2,518.50 |
M&M | 2,829.75 |