Sensex, Nifty reach new all time highs on 15 January 2024
The Indian stock market made an all-time high today i.e. on January 15. During trading, Sensex touched the level of 73,288 and Nifty touched the level of 22,081. During early trading, out of 30 Sensex stocks, 24 were seen rising and 6 were declining.
Today there is a great rise in IT shares. Wipro shares saw a rise of more than 11%. This rise in the company’s shares is visible after the quarterly results. At the same time, Tech Mahindra shares are also up by more than 5%.
What is driving the stock market rally?
Tremendous rise was seen in IT shares in the stock market. Wipro was today’s top gainer. As soon as the market opened, Wipro’s shares hit the upper circuit with a rise of 10 percent and Wipro’s shares reached a high of 52 weeks. Whereas Tech Mahindra, HCL, Infosys shares saw a rise of 2-5 percent. Talking on sectoral basis, today shares of IT, realty and banking sectors are trading strongly. However, shares of Hindustan Unilever, Bajaj Finance, NTPC and Asian Paints declined.
Rupee strengthens
There was a strengthening of rupee on Monday. In early trade, the rupee rose by 18 paise to reach 82.77 against the US dollar. The rupee opened at 82.82 per dollar in the interbank foreign exchange market.
Rise of railway stocks
Indian Railway Finance Corporation (IRFC), a provider of financial services for Indian Railway projects, has attracted the attention of many investors in recent times. IRFC is known for its strong fundamentals, bull run and fund raising Railway Stock from 2023.
Last week, IRFC touched a new 52-week high. This stock continued its upward trend and is now giving more than 4.5 times return on investment since its IPO. This stock has given more than 350 percent returns in the last 10 months. Even on Monday, there was a strong rise in this stock and it was trading at the level of Rs 128, increasing by 13 percent.
The shares of government company Rail Vikas Nigam Limited have risen like a rocket. The company’s shares rose by more than 7 percent on Monday to reach Rs 218.80. This is a new one-year high for the shares of Rail Vikas Nigam Limited (RVNL). The company’s shares closed at Rs 203.10 on Friday. The 52-week low level of Rail Vikas Nigam shares is Rs 56.15.
Shares of Rail Vikas Nigam Limited (RVNL) have increased by more than 600% in the last 2 years. Shares of the government company were at Rs 31 on 25 February 2022. The shares of the company have reached Rs 218.80 on January 15, 2024. At the same time, in the last one year, the shares of Rail Vikas Nigam Limited have given returns of 183%. The company’s shares were at Rs 76.85 on January 16, 2023. Shares of Rail Vikas Nigam Limited have reached Rs 218.80 on 15 January 2024.
