In a historic moment, the Indian stock market reached new milestones as the benchmark indices surged to record highs. The Nifty 50 crossed the 19,000 mark for the first time, while the BSE Sensex breached the 64,000 level.

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The BSE Sensex gained 499 points to close at 63,915, while the Nifty 50 surged by 155 points to end at 18,972. The Nifty Bank also witnessed a substantial rise, climbing 206 points to settle at 44,328. Additionally, the midcap index performed impressively, rising by 224 points to reach 35,520.

Shares of the Adani Group witnessed a significant surge following reports of GQG Partners' additional stake acquisition in Adani Enterprises and Adani Green.

The top gainers on the Nifty 50 included Adani Enterprises, Adani Ports, JSW Steel, Bajaj Auto, and Sun Pharma, all contributing to the upward momentum. On the other hand, HDFC Life, Tech Mahindra, Hero MotoCorp, Bajaj Finserv, and M&M experienced losses, albeit marginal.

Sameet Chavan, Head Research, Technical and Derivatives, Angel One said, "The steppingstone was laid yesterday for this historical achievement. The recent laggard financial space became buoyant after HDFC twin’s merger news flow which was fuelled by the overnight rally in US bourses. We already had all the ingredients to clock new highs but was lacking some trigger. With reference to recent commentary, we were quite vocal on the possibility of this achievement soon. It’s finally a reality now and if global market supports further, we may see Nifty entering the next cluster around 19250 – 19500. Before this, 19050 – 19150 are the immediate levels tow watch out for. On the flipside, the base has now shifted higher towards 18700 – 18600 which should be considered as a sacrosanct support zone. On an immediate basis, 18850 – 18800 is likely to provide cushion in case of any intraday blip in the market. Traders are advised to stay upbeat and should focus on beaten down pockets now, which may offer better trading opportunities in next few days,"

All sectoral indices closed in the green.

Also read: Stock Market Highlight: Sensex, Nifty 50, Nifty Bank end at record closing highs, end June series higher

First Published:Jun 28, 2023 3:46 PM IST