Updated April 4th, 2024 at 10:34 IST

HDFC Bank propels Indian markets to record highs; Nifty, Sensex scale new peaks

The blue-chip NSE Nifty 50 surged 0.82 per cent to reach a record high of 22,619 and BSE Sensex NSEI surged by 0.85 per cent to reach an all-time high of 74,501

Reported by: Business Desk
Stock market news | Image:Republic
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Stock market news: Indian benchmarks commenced trading on a high note on Thursday, April 4, as both the benchmarks Nifty 50 and Sensex soared to record highs, driven by a stellar performance from financial stocks following a positive business update from leading private lender HDFC Bank.

The blue-chip NSE Nifty 50 surged 0.82 per cent to reach a record high of 22,619 and BSE Sensex surged by 0.85 per cent to reach an all-time high of 74,501.73.

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The optimism permeated across all 13 major sectors, with high-weightage financials recording a notable gain of 0.91 per cent. This surge was spearheaded by HDFC Bank, which witnessed a rise of 2.25 per cent after reporting sequential growth in deposits and advances in the March quarter.

In a separate development, the National Stock Exchange (NSE) unveiled plans on Wednesday to introduce four new indices across cash and futures and options (F&O) segments starting from April 8.

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The newly announced indices encompass the Nifty Tata Group 25 per cent Cap, Nifty500 Multicap India Manufacturing 50:30:20, Nifty500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare.

NTPC, HDFC Bank, Coal India, Power Grid, DivisLabs, and Hindalco are the early gainers on NSE Nifty 50 index, while IndusIndBank, HeroMotoCorp, Shriram Finance, Sun Pharma, and Bharti Airtel are among the early losers.

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Published April 4th, 2024 at 09:41 IST