📢 Stock Market Breaking News: Nifty Hits Fresh Peak, PSU & IT Stocks Lead the Rally

The Indian stock market scripted history today as the Nifty scaled a fresh all-time high, driven by strong buying in PSU banks and IT heavyweights. Investor optimism surged across Dalal Street, as positive global cues and robust corporate earnings added fuel to the rally.

Nifty Touches New Peak

In a remarkable session, the Nifty 50 crossed 24,350 levels for the first time, setting a fresh record. The Sensex too climbed sharply, breaching the 80,200 mark, reflecting the strength of the ongoing bull run.

Traders said the rally was supported by broad-based participation, with PSU banks, IT companies, and auto majors leading from the front. Midcap and smallcap indices also registered new highs, reinforcing the positive sentiment.

PSU Stocks Take Center Stage

Public sector banks emerged as the biggest gainers of the day. The Nifty PSU Bank index jumped more than 3%, with State Bank of India, Bank of Baroda, and Canara Bank recording multi-month highs.

Analysts attributed this surge to expectations of stronger credit growth, government support for public sector undertakings, and declining bad loan concerns. Investors are betting on the PSU revival story, pushing the sector into the limelight.

IT Sector Boosts Market Sentiment

The IT index also witnessed strong traction, adding over 2% during the session. Tech giants like Infosys, TCS, and Wipro surged after global brokerage firms upgraded earnings estimates, citing rising demand for digital services and AI-led transformation.

A weaker US dollar further supported the IT pack, as it boosts revenue for Indian companies with overseas exposure. Experts believe the IT sector’s resilience is key to sustaining the market rally.

Global Tailwinds Support Indian Equities

The bullish momentum in India was further reinforced by global developments. Wall Street ended on a positive note overnight, with investors cheering cooling inflation data and hopes of a US Federal Reserve rate cut later this year.

Asian markets also traded higher, giving Indian equities a strong start. Additionally, crude oil prices remained stable below $80 per barrel, reducing inflationary pressure and improving outlook for corporate earnings.

Broader Market Participation

Apart from large-cap names, the midcap and smallcap indices touched new records, showing confidence among retail investors. Stocks in the capital goods, auto, and infrastructure space witnessed sharp gains.

Market experts cautioned, however, that valuations in the broader market are stretched, and selective stock-picking will be crucial going forward.

Expert Views on the Rally

Market analysts are optimistic but suggest a balanced approach.
According to a senior strategist at a leading brokerage, “The market trend remains bullish, and with Nifty hitting a new peak, momentum could extend further. However, profit booking is also likely at higher levels.”

Another analyst noted, “PSU banks and IT stocks are the clear leaders today, but investors should keep an eye on global economic data and central bank commentary for further direction.”

Rupee & Bond Market Update

The Indian rupee traded stronger against the US dollar, supported by fresh foreign inflows and positive equity momentum. Government bond yields remained steady, signaling continued stability in the debt market.

This dual strength in equity and currency markets is drawing more confidence from foreign institutional investors.

What Lies Ahead?

With Nifty hitting a fresh peak, market participants are now eyeing the 24,500 level as the next milestone. If the rally continues, the Sensex could scale 81,000 soon, backed by strong fundamentals and favorable global cues.

Experts suggest that while short-term corrections are possible, the long-term outlook for Indian equities remains highly positive, especially with strong earnings, policy stability, and robust domestic demand.

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Final Word

The Indian stock market is in celebration mode as Nifty hits a fresh peak and PSU banks, along with IT stocks, fuel the rally. With investor confidence at a high and global factors lending support, Dalal Street continues to shine.

The big question now is whether this momentum can sustain through the next few weeks and if markets are set for another record-breaking journey.