Sensex Hits All-Time High

Sensex hit its fresh all-time high of 63,588.31 in morning trade on Wednesday after almost seven months.

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Select heavyweights, including Reliance Industries, HDFC twins and Larsen & Toubro were among the top contributors to the gains today.

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The BSE Midcap and Smallcap indices also hit their fresh all-time highs of 28,745.47 and 32,765.32 respectively.

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The market benchmark had been hovering around its previous all-time high level for the last couple of weeks

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Nifty is yet to breach its previous all-time high of 18,887.60. The index rose to the level of 18,875.90 in today's trade so far.

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The overall market-capitalisation of BSE-listed firms has risen to the record level of *294 lakh crore as of June 21.

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In the last 7 months, Sensex has been challenged by weaknesses in the global economies, higher interest rates and inflation.

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The benchmark has gained because of the macroeconomic indicators, better March quarter numbers and sustained foreign capital inflow.

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The mid and smallcaps have outperformed the benchmark which shows that retail investors are optimistic about the domestic market.

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For the year so far, Sensex is up 4 per cent while the BSE Midcap and Smallcap indices are up 12 per cent each.

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As per NSDL data, FPIs have invested ENG 22-01- *56,902 crore in the Indian financial market in the calendar year 2023 so far.

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Next: June Stock Recommendations

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