Stock market today: Nifty50 hits record lifetime high near 26,300; BSE Sensex up over 249 points

Stock market today: Nifty50 hits record lifetime high near 26,300; BSE Sensex up over 249 points

The Nifty50 index hit a fresh all-time high, crossing the 26,300 mark for the first time ever, reaching around 26,310 in intraday trade. This marks its highest peak in about 14 months. Simultaneously, the BSE Sensex rose over 249 points, trading above the 86,000 level, which is also a record high for the index.

The rally was driven by growing market expectations of interest rate cuts in the U.S. and India next month, boosting investor sentiment. Key gainers on the Sensex included Bajaj Finance , Axis Bank , Larsen & Toubro , Bajaj Finserv , and Asian Paints , which rose between 0.8% and 1.5%. The broader markets also showed strength, with both midcap and small-cap indices up by around 0.1% each.

The technical and fundamental factors supporting this rally include potential earnings growth expected in Q3 and Q4 of FY26 and strong domestic demand, alongside a favorable market construct with high foreign institutional investor short positions. The Bank Nifty is also viewed as having the strength to support further rallies.

In summary, Indian equity benchmarks, Nifty50 and BSE Sensex, hit new record highs near 26,300 and 86,000 respectively, fueled by optimism over impending global and domestic rate cuts and positive earnings prospects