Stock market reached new heights, the Sensex reached a high of 71,913 and the Nifty reached a high of 21,593

Stock market: A new all-time high has been made in the stock market today i.e. on Wednesday (20 December). During trading today, the Sensex touched the level of 71,913.07 and Nifty touched the level of 21,593.00. Earlier, the Sensex opened at the level of 71,647 with a gain of 210 points. Nifty also rose by 98 points. It opened at the level of 21,543.

During early trading, out of 30 Sensex stocks, 28 were seen rising and only 2 were declining. The biggest rise is being seen in IT and banking shares. Earlier yesterday also the market had reached an all-time high.

Indian markets reach record high due to gains in Asian markets
Indian benchmark equity indices opened at a new record high on Wednesday led by gains in Asian markets after Japan and China also kept interest rates unchanged. Bombay Stock Exchange (BSE)’s 30-share sensitive index Sensex was seen trading at 71,821 with a rise of 384 points or 0.54% at 9.20 am on Wednesday. At the same time, the National Stock Exchange (NSE) sensitive index Nifty based on 50 shares was seen trading at the level of 21,562 with a rise of 109 points or 0.51%.

Where is the market boom coming from?
The Bank of Japan kept rates steady on Tuesday and maintained its accommodative policy guidance. However, the bank gave no indication of ending its negative interest rate regime. The rally was also supported by strong domestic macroeconomic data, falling oil prices, sustained inflows from mutual fund investors, record fortnightly foreign purchases, and an improving US rate outlook. Among Sensex companies, Tech Mahindra, Wipro, TCS, Reliance, Infosys, and HCL Tech opened in the green, while Mahindra & Mahindra, Maruti, and Sun Pharma opened in the red. Among individual stocks, shares of Nippon Life India Asset Management climbed 8.2% as a block deal of 2.9% equity shares was done.