Sensex closed beyond 59 thousand for the first time, banking stocks broke all old records with telecom relief package

There was a tremendous boom in the stock market today due to the announcement of telecom relief package and PLI scheme for the auto sector. For the first time in Sensex history, not only did it reach beyond 59 thousand but it also closed. The Sensex closed at the level of 59141 with a gain of 417 points today. During trading, it had reached the level of 59204. Nifty closed at 17629 level with a gain of 110 points. During trading, it had reached the highest level of 17644.

Banking stocks were a major contributor to today’s rally. Nipty Bank has set a new record today. Nifty Bank registered a rise of 2.22 per cent, while PSU Banking stock gained 5.43 per cent. The private bank index rose 2.67 per cent. IndusInd Bank, ITC and SBI were today’s top gainers. On the other hand, TCS, Tech Mahindra and Tata Steel were the top losers. The market cap of BSE listed companies increased to Rs 260.78 lakh crore today. For the first time, the market cap of the stock market has crossed 260 lakh crores. Today there was an increase of 1.10 lakh crore in the wealth of investors.

After today’s rally, ICICI Direct said that by the end of this year, Nifty will easily reach the level of 18600. He says that the bull run will continue in the Indian stock market for a long time. In the coming days, there will be tremendous growth in banking, finance, insurance, IT, telecom, auto, capital goods, realty and infra stocks. He says that Nifty is not expected to come under 16300 yet.

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