Sensex crosses 86,000 for first time, Nifty hits record high
What's the story
The Indian stock market witnessed a major surge today, with the Nifty 50 hitting a new lifetime high after 14 months. The index hit an all-time high of 26,295.55 today, beating its previous record of 26,277.35 set in September 2024. The BSE Sensex also touched a fresh peak, breaching the 86,000 mark for the first time.
Market performance
Bank Nifty and sectoral indices perform well
The Bank Nifty index also continued its upward trend, hitting a new peak of 59,802.65. This was mainly driven by gains in ICICI Bank, HDFC Bank, Canara Bank, Axis Bank, and IDFC First Bank. However, the broader markets lagged behind with the Nifty Smallcap 100 and the Nifty Midcap 100 indices trading in red. Sectoral indices such as Nifty Auto, FMCG, Metals, and Pharma gained while PSU Bank, Realty, Oil & Gas, and IT saw losses.
Expert opinion
Market rally supported by earnings growth and consumption boom
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the market rally is backed by potential earnings growth expected in Q3 and Q4 of FY26. He said the consumption boom seen in October will lead to impressive earnings growth. However, he cautioned that valuations do not support a sharp sustaining uptrend. "If the trend sustains, even with slight moderation after the festival season, earnings growth going forward will be good warranting a rally in the market," he added.