Nifty hits all-time high, surges past 26,277 points after 14 months; know what is driving the rally?

The Nifty 50 index has reached an all-time high, surpassing 26,277 points, the level it last reached in September 2024. Analysts expect the rally to continue, with potential targets ranging from 26,500 to 27,000, driven by strong fundamentals and policy support. This marks a major milestone, with the index gaining nearly 13% or 3,026 points in the current financial year.

Nifty’s previous high was 26,277.35 recorded on September 27, 2024, and it took around 14 months to surpass this level. This rise is due to optimism about possible interest rate cuts in the US and India, strong domestic economic indicators and heavy buying by foreign institutional investors.

What caused Nifty to cross 26,277 points?

As of 09.32 in the morning, SENSEX was traded at 85,911 with an increase of 302 points, while the NIFTY50 index was traded at 26,278 with an increase of 74 points. Despite the lack of a trade agreement with the US and geopolitical developments, it took around 289 sessions for Nifty to break the ceiling and rise. Major contributors to the Nifty rise include Bharti Airtel, ICICI Bank, Larsen & Toubro, HDFC Bank, Axis Bank, Mahindra & Mahindra, Bajaj Finance and Reliance Industries Ltd. It is located.

In the NIFTY50 index, Bajaj Finance was the top gainer with its shares rising 1.44% to ₹1,025. Shriram Finance, Asian Paints, Bajaj Finserv, Larsen & Toubro, Hindalco, Bajaj Auto, Hindustan Unilever and ICICI Bank were also among the winners. However, shares of Eternal, HDFC Life, Eicher Motors, SBI Life, Ultratech Cement, ONGC, Apollo Hospitals and Adani Enterprises could not perform well.

Eleven of the 15 major sectors were trading higher, driven by a 0.5% gain in the NIFTY Financial Services index. NIFTY Bank, Auto, Metal, Pharma and Private Bank indices also rose between 0.3% and 0.5%, according to Upstox.

global market

Japan’s Nikkei continued its winning streak on Thursday, rising by 1.24%, Hong Kong’s Hang Seng by 0.35%, South Korea’s KOSPI by 1.14% and China’s Shanghai Composite by 0.66%. The gain was driven by rising expectations for a rate cut by the US Federal Reserve. US stocks ended higher as the Dow Jones Industrial Average rose 0.67%, the S&P 500 gained 0.69% and the tech-heavy Nasdaq gained 0.82% as expectations of a Fed rate cut increased buying interest ahead of the Thanksgiving holiday.