Indian Stock Market Hits Record Highs: Sensex Soars to 72,410, Nifty Surpasses 21,700

Ajmera Realty

December 28, 2023

New Delhi, India

Sensex and Nifty Scale New Peaks Amid Global Optimism

In a remarkable display of strength, the Indian stock market has reached unprecedented heights, with the Sensex soaring to an intra-day record high of 72,410 and the Nifty surpassing the 21,700 mark. This historic climb comes ahead of the monthly Futures and Options (F&O) expiry, with both indices ending at record highs.

Both Sensex and Nifty closed at 72,410.38 up +371.95 

Positive Sectoral Movements

Sectoral Indices Paint a Positive Picture

Except for the Information Technology sector, which saw a minor setback, other sectoral indices experienced notable gains. Metals and PSU banks emerged as the top gainers, while FMCG, oil & gas, power, and metal sectors registered increases ranging from 1-2 percent.

Market Capitalization Milestone

Indian Listed Companies Reach $4.3 Trillion in Market Cap

The combined market capitalization of BSE-listed companies has now crossed the $4.3 trillion mark, with an impressive addition of $26 billion in December alone. The midcap index closed in the green, albeit relatively underperforming compared to its larger counterparts.

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Individual Stocks in Focus

Stocks Making Headlines

Several stocks captured attention in today’s session, including Adani Ports, Vishnu Prakash R Punglia, Aditya Birla Capital, Kansai Nerolac, SEAMEC, LIC, Zee Learn, Power Grid, UGRO Capital, and SJVN.

Contributors to Market Gains

HDFC Bank Leads Nifty Bank’s Surge

HDFC Bank played a pivotal role, contributing nearly 50% to Nifty Bank’s overall gain. All Nifty Bank constituents recorded gains, with HDFC, ICICI, and SBI emerging as the top gainers.

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Sector-specific Developments

Cement and PSU Banks Bounce Back

Cement stocks rose on positive brokerage notes, with UltraTech and Dalmia emerging as the top gainers. Meanwhile, PSU banks snapped a two-day losing streak, with PNB and BoB leading the pack.

Expert Views and Cautious Optimism

Analysts Warn of Volatility, Yet Remain Optimistic

Market analysts have cautioned about potential volatility due to NSE derivative contracts. However, they remain cautiously optimistic, citing robust macro data and global rallies as key drivers for the market’s impressive performance.


The Indian stock market continues its historic climb, setting new records and showcasing resilience amid global economic conditions. While experts remain watchful of potential volatility, the overall sentiment remains positive, offering investors opportunities for strategic moves.

Also Read: Stock Market Hit New Highs Amid Rising Volatility: FPIs Drive Rally, Valuations Surge

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