The stock market saw a significant rally following the victory of the ruling alliance in Maharashtra. The BSE Sensex soared by 1,300 points, reaching a record high of 80,423.47 during trading. This surge pushed the total market capitalization of BSE-listed companies to ₹441.37 lakh crore. The Nifty 50 also jumped 346.30 points to trade at 24,253.55.
Last week, the Sensex recorded a 1,536-point gain, marking a strong comeback after consecutive weeks of losses. Domestic investors capitalized on the dip in stock valuations, driving fresh investments and aiding the market’s recovery.
Gold prices retreated today after recent gains, as the dollar index climbed past 107. On Friday, gold closed at $2,716.90 per ounce, but dropped below $2,696 this morning before recovering slightly to $2,699. The ongoing Ukraine war and other global uncertainties continue to impact the gold market.
In the currency market, the dollar index slipped from Friday’s close of 107.55 to 106.84 this morning. Despite dollar strength, the Indian rupee gained on Friday, closing at ₹84.45 against the dollar, supported by Reserve Bank of India (RBI) interventions. Analysts suggest the rupee could rise further if the dollar weakens.
Crude oil prices remained steady, with Brent crude trading at $75.16 per barrel this morning. WTI crude was at $71.26, while UAE’s Murban crude stood at $74.33.
In the crypto market, digital assets continued their bullish streak. Bitcoin surged to a record $99,699 before correcting to $97,300. Ethereum peaked at $3,478.83 before settling at $3,320. Cryptocurrencies remain on a robust upward trend, bolstered by favorable sentiments, including support from Treasury Secretary nominee Scott Besant, a vocal advocate of digital currencies.
