Sensex crosses 75,000 for the first time; Nifty 50 hits record high of above 22,700

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Tata Motors, Wipro, TCS, Tech Mahindra and ICICI Bank were the top gains in the Sensex, while Reliance Industries, JSW Steel, Titan Company and Larsen & Toubro were the top losers. Also Read: Day trading stocks to buy: Anand Rathi expert recommends three shares to buy today Strong domestic macroeconomic fundamentals and positive global market cues also pushed the Indian stock market higher. “After a stellar FY24, Indian equity markets continue to march higher into new territory.

Hopes of a favourable outcome from the ensuing general elections and the subsequent policy thrust are keeping sentiments upbeat. The announcements of encouraging monthly/yearly data and some operational / order announcements by companies are attracting stock-specific buying," said Dhiraj Relli, MD & CEO at HDFC Securities. The broader market is slow in catching up and investors will do well to be cautious in entering small/midcaps without adequate due diligence, Relli added.

Meanwhile, on the global front, Asian markets traded higher, while the US stock market ended flat overnight in a choppy session. Investors now await the US Federal Reserve’s monetary policy meeting minutes and key US inflation data for further cues on the timing and depth of interest rate cuts. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 9 “The pattern of ‘higher highs and higher lows’ is a distinct bullish signal and this has been the standout pattern in the Indian market this year.

Consequently, the buy-on-dips strategy has consistently worked for investors. The new records set by the market yesterday confirm the bullish market undertone. A healthy and desirable trend in the market movement yesterday was the outperformance of the