Sensex Hits Record High of 77K, Closes Lower Amid Profit-Booking

Sensex Hits Record High of 77K

Sensex Hits Record High of 77K: Sensex rose to the 77,000 mark on Monday for the first time soon after the market was open. This rise was seen on Sunday the following day after the Modi swearing-in ceremony.

On the other hand, the Nifty 50 hit a high of 23,411 on Monday.

As per the day season on BSE, the foreign funds showed a net worth of Rs 2,572, and the domestic funds showed an inflow of Rs 2,764 crore.

Investors were slightly in a better situation by Rs 1.8 lakh crore at the end of the day and BSE's market capitalization is now at Rs 431.4 lakh crore.

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Soumya Rajan, CEO of Waterfield Advisors, said,“The record market highs indicate the markets' confidence in the ongoing economic reforms and policy stability.”

Even though the BJP didn’t perform as per the expectation of the market after many leaders said that they would still support the party, the investor's confidence quickly rose again.

Rajan of Waterfield Advisors noted, “Some key focus areas/sectors investors should look forward to are automotive and auto components (EV innovations & upgraded infra), financial services, infrastructure (construction, real estate, and engineering), renewable energy and sustainability, and export-oriented sectors.”

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