The stock market on January 11 hit an all-time high. The Sensex rose above 49,000 for the first time. The Sensex gained 486 points. The Sensex closed at 49,269 points.
Similarly, the Nifty closed at 14,498 points. It is 126 points higher than closing rate on January 8.
Major IT, auto and FMCG stocks led the market to new heights. The Nifty IT index was up over 3 per cent and the auto index was up over 2 per cent. At the same time, metal, public sector banks and media stocks lost ground.
Shares of Tata Motors hit a 52-week high today. Today, the stock is up 12 per cent at Rs 225.40. Today marks the one-year high of January 15, 2020.
There is an unusual trend in the market right now that is being used as an opportunity to buy every small drop in the market. Cash flow from foreign investors is one of the factors driving the market.
Many stocks today set 52-week highs, setting a new record. Most of the Nifty stocks were gainers. 31 stocks gained while 19 stocks lost.