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Sensex, Nifty hit fresh record highs: Why is stock market rising today?

Stock market today: Domestic benchmark indices opened on a strong note today (April 8) following positive global cues from the US markets on Friday. The S&P BSE Sensex hit a fresh lifetime high of 74,658 and Nifty reached a new peak of 22,623 while buying action was seen in IT and auto counters. For Nifty, 41 stocks traded in the green around 9:20 am while nine were in the red.

Stock market today: The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai.(PTI)

Top gainers were Bharat Petroleum Corporation (BPCL), Tata Steel, Axis Bank, Bajaj Finserv and Titan Company while top losers were Adani Ports & Special Economic Zone, Apollo Hospitals, Wipro, Divi’s Laboratories and HDFC Bank.

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Energy, realty and metals gained the most and out of the 15 Nifty sectoral indices, 12 were trading in the green today. Nifty Oli & Gas and Nifty Realty gained over 1% around this time and Auto and IT sectoral witnessed buying action as well. Nifty Bank traded 0.09% lower at 48,448.

Wipro was among the top Nifty losers and fell 1% as the stock hit day’s low of 479.20 on the NSE. This comes after Thierry Delaporte resigned as the Chief Executive Officer of the IT services company.

Shares of Tata Group stock Voltas jumped by 11% after the company reported a sale of 2 million AC units in FY 2023-24. The stock hit a fresh 52-week high of 1,392 today. 

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