Share Market News: Important Factors That Surged Stock Market To An All-Time High

15 Dec, 2023 Author: Ayushee Joshi

Share Market News: The Sensex reached a new high of 70,540 and the Nifty reached a new low of 21,189. Bank Nifty has also surpassed the 48000 mark. For the first time, the total market capitalization of companies listed on the BSE has surpassed Rs 354 lakh crore. In terms of market capitalization, the Indian stock market has risen to seventh place in the world. The 30-share BSE Sensex closed at 70,514.20, up 929.60 points or 1.34%, while the Nifty 50 closed at 21,182.70, up 256.35 points or 1.23%. In intraday trading, the Sensex surpassed 70,600, while the Nifty 50 surpassed 21,200.

Factors Leading to Stock Market Surge

This surge came after the Federal Reserve of the United States indicated that it was nearing the end of its monetary tightening cycle, raising expectations for a rate cut in March 2024. The Nifty 50 index surpassed 21,200, while the S&P BSE Sensex gained 1,000 points. All major industries saw gains, with IT and real estate leading the way. The IT industry increased by 3%. With companies such as HCLTech, Tech Mahindra, LTIMindtree, Infosys, and Wipro leading the Nifty 50 gainers.