Sensex @historic 80K | M&M and Tata Steel among top performers

The 30-share BSE Sensex made history on Wednesday, July 3, by reaching the 80,000-point milestone for the first time. This record-breaking achievement was driven by a significant bullish rally, marking the fastest-ever 10,000-point increase in just 58 sessions. The benchmark index climbed 632.85 points, or 0.79%, to achieve a new intraday high of 80,074.30, buoyed by robust gains in banking and FMCG stocks.

Market Milestones and Performances

The Sensex’s remarkable journey to 80,000 was highlighted by its rapid ascent through key levels in recent months. After surpassing the 75,000 mark on April 9, it continued to climb, hitting 77,000 on June 10, 78,000 on June 25, and 79,000 on June 27. This upward momentum culminated in the Sensex reaching 80,000 within six months, including a special live trading session on May 18.

By the close of trading on July 3, the Sensex had settled just shy of 80,000, ending the day at 79,986.80, up 545.35 points or 0.69% from the previous close. This significant rise was supported by strong buying in banking and FMCG shares, coupled with a firm trend in global markets.

Top Gainers: M&M, Tata Steel, and More

Among the standout performers in the first half of 2024 were companies like Mahindra & Mahindra (M&M) and Tata Steel. These stocks saw impressive gains, ranging from 20% to 75% over the past six months. Bharti Airtel also emerged as a top gainer, contributing to the overall bullish sentiment in the market.

Summary

The Sensex's milestone achievement at 80,000 points marks a significant moment in the Indian stock market’s history. The rapid gains seen in key sectors such as banking and FMCG, along with the outstanding performance of top stocks like M&M and Tata Steel, underscore the positive market sentiment and the strong economic fundamentals driving this unprecedented rally.