Indian equities hit new highs as Sensex breaches 75,000 mark, fueled by robust economy

The Sensex surged by 382 points to reach 75,124.28 at the opening on April 9, marking a remarkable milestone in the Indian stock market. This latest surge of 5,000 points in the index was achieved in just 82 days, following its crossing of the 70,000 mark in December 2023. The Sensex's rapid climb reflects its significant gains of over 25 percent in the past year and more than 14 percent in the last six months.

The stock market's upward trajectory is attributed to various factors, including a robust domestic economy and GDP growth, along with factors like credit growth and policy continuity, as highlighted by Kranthi Bathini, Director of Equity Strategy at WealthMills Securities. India's clarity on policy continuity, especially amidst global elections in 64 countries this year, positions it favorably among investors worldwide.

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This latest surge marks the Sensex's fourth quickest gain, with previous milestones achieved rapidly in recent years. The rally has seen widespread gains across most sectors, with realty, telecommunications, energy, auto, and capital goods stocks leading the charge. Notably, indices such as the BSE Realty Index, BSE Telecommunications Index, BSE Energy Index, and BSE Auto have witnessed substantial gains ranging from approximately 21 to 27 percent.

On April 8, major Sensex gainers included Maruti Suzuki, Reliance Industries, and Mahindra and Mahindra. In morning trades on April 9, Tata Steel, Infosys, and JSW Steel emerged as significant gainers. Analysts maintain a bullish outlook on the Indian economy, attributing the market's exuberance to consensus among various investor segments. The upcoming earnings season and companies' outlook will play a crucial role in determining the sustainability of this growth trajectory. 

The Sensex's monumental climb reflects India's resilience and attractiveness as an investment destination amid global uncertainties, positioning it for further growth in the foreseeable future.

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