The rally in the stock markets continues on Wednesday i.e. on September 1, 2021, after the figures of record increase in GDP growth. The country has registered a growth of 20.1 percent in GDP in the June quarter. However, this is higher because the base was very low in the same quarter last year. The economy had declined by -24.4 per cent in the June quarter of last year, so the recovery is at a record level this time. Today both the benchmark indices have reached new highs. Nifty touched the figure of 17,200 in early trade today. At the same time, the Sensex reached above 57,700 today.
In early trade, the Sensex rose 82 points to 57,634.39 and the Nifty rose 29.80 points to 17,162.
In the opening, 13 sectors of Nifty were in the green. The banking index had gained 1 per cent. Private and PSU Bank, Realty, Consumer Durables, Oil and Gas and Media indices have gained 0.5-1.4 per cent. However, selling was visible in IT and metal stocks.
However, there was a fall in Asian markets. The dollar has recovered slightly from its three-week low, but investors are still cautious.
If we talk about the closing of the previous session, the Sensex jumped 663 points on Tuesday and closed above the 57,000 mark for the first time. NSE Nifty also went above the 17,000 mark. According to traders, the market sentiment was positive before the gross domestic product (GDP) growth rate data came out. Apart from this, the market was also supported by the strengthening of the rupee’s exchange rate against the dollar. The Sensex closed at a record 57,552.39, jumping 662.63 points, or 1.16 per cent. Nifty also climbed 201.15 points, or 1.19 percent, to end at an all-time high of 17,132.20.
With the rally in the market, the market capitalization of BSE listed companies jumped to an all-time high of Rs 2,50,02,084.01 crore.