Indian Stock Market Hits Fresh All-Time Highs Despite Global Mixed Cues

Indian stock market indices, Sensex and Nifty 50, reached new all-time highs on Monday, defying mixed global cues. Nifty 50 started the day at 22,455 and surged to 22,529.95, eventually closing at 22,462, a 135-point increase. Meanwhile, Sensex opened with a jump of 317 points and peaked at 74,254.62, settling at 74,014.55, up by 363 points.

The market capitalisation of BSE-listed firms grew to nearly ₹393.2 lakh crore from the previous ₹387 lakh crore, adding nearly ₹6.2 lakh crore to investors’ wealth in a single session. The positive market sentiment stems from strong Indian economic prospects and anticipated rate cuts in the upcoming months.

V K Vijayakumar from Geojit Financial Services mentions that the market shows momentum and bullish indications, with the Nifty climbing 322 points over two trading days. ICICI Direct forecasts continued positive bias for the Nifty with support near 22,000 and a target of 22,700. The RBI policy session this week may influence market direction.

Axis Securities PMS’ Naveen Kulkarni anticipates healthy double-digit returns for Nifty in the low to mid-teens, while Future Generali India Life Insurance Company’s Niraj Kumar highlights optimism in FY25 driven by corporate earnings growth and policy continuity. The Indian stock market could experience a further rally post the General Election outcome.