Stocks & Funds

Investors Rejoice as Dalal Street Soars to New Heights – Nifty50 Crosses 19,000 Milestone

Nifty50 crosses 19000

At the time of writing, both the Sensex and Nifty50 were up 0.6-0.7 percent from Wednesday. The Sensex is currently trading at 64,312 points after crossing the 64,000 mark on Wednesday.

The Sensex and Nifty50 indexes touched their all-time highs Wednesday, with analysts pointing to a firm economic outlook, moderate inflation, and strong foreign investor purchases.

On August 15th, Indian stock markets will remain closed for Independence Day celebrations due to Bakri Eid (Eid-al-Adha), and normal trading will resume Friday.

As the market picks up again, the benchmark indices are poised to reach new highs due to an undercurrent. In support of the bullishness globally, the mother market US is showing resilience backed by a 2 percent Q1 GDP growth and declining weekly unemployment claims, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The June auto sales numbers, Q1 company earnings, and the progress of the monsoon will give India and the global market direction.

Despite market valuations being high, Vijayakumar advised investors to exercise caution.

Additionally, inflation in the US and India is moderating, but whether this trend continues remains to be seen.

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Editorial Director
I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.

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