Stock market today: Nifty50 hits lifetime high near 26,300; BSE Sensex up over 250 points

Stock market today (AI image)

Stock market today:Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied in trade on Thursday with the broader index hitting a lifetime high.

While Nifty50 was above 26,250, BSE Sensex was up over 250 points. Nifty50 crossed its lifetime high of 26,277 hit last year in September to hover near 26,300.

At 9:30 AM, Nifty50 was trading at 26,276.25, up 71 points or 0.27%.

BSE Sensex was at 85,877.89, up 268 points or 0.31%.Market analysts indicate positive conditions persist, supported by improved Q3 demand patterns and anticipated capex growth, alongside potential rate reductions from RBI and the US Federal Reserve, which could enable the market to achieve new heights.Dr.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “With the 320 point rally in the Nifty yesterday, the market construct has changed to a bullish mode.

New all-time highs for Nifty and Sensex are only a question of time.

The technical construct of the market with high FII short position also is favourable for rally.

Importantly, the rally has fundamental support from potential earnings growth expected in Q3 and Q4 of FY 26.

The consumption boom witnessed in October will translate into impressive earnings growth.

If the trend sustains, even with slight moderation after the festival season, earnings growth, going forward, will be good warranting a rally in the market.

But there is no room for a sharp sustaining uptrend since valuations do not support that.

Fundamentally Bank Nifty has the strength to support a rally to a new record high.” “Expectation of a rate cut by the Fed and a possible Russia-Ukraine peace accord have improved sentiments for equity markets globally.”US stocks advanced on Wednesday, driven by technology sector strength and increased likelihood of a December interest rate reduction by the US Federal Reserve, encouraging investors ahead of the Thanksgiving holiday.Asian equities advanced, following gains on Wall Street, as investors grew more optimistic about potential Federal Reserve interest-rate reductions.Gold prices held steady on Thursday, following a one-week peak in the previous session.

Investors assessed potential December interest rate reductions amid mixed signals from the US Federal Reserve.Foreign portfolio investors buyd shares worth Rs 4,778 crore net on Wednesday.

Domestic institutional investors were net buyrs at Rs 6,248 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own.

These opinions do not represent the views of The Times of India)