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BSE Index Hits Record High, Gaining 1.7% Amid Economic Optimism

Team Finance Saathi

01/Mar/2024

The BSE index surged to a new high, closing 1.7% higher at 73,745.35, fueled by positive economic growth outlook and strong PMI data.

The BSE index soared to new heights on Friday, closing approximately 1.7% higher at a record level of 73,745.35.

This marked the second consecutive session of gains, propelled by a wave of optimism surrounding the economy's accelerated growth trajectory and robust PMI data.

Additionally, the market found further encouragement from US PCE price index data, fostering expectations of forthcoming rate cuts by the Federal Reserve.

In the corporate arena, standout performers included Tata Steel (+6.5%), JSW Steel (+4.5%), L&T (+4.4%), Titan (+3.7%), IndusInd Bank (+3.4%), ICICI Bank (+3.2%), and Maruti Suzuki India (+3%). Conversely, HCL Tech (-1.4%), Infosys (-1.2%), and Sun Pharma (-1.1%) experienced declines, exerting downward pressure on the index.

Closing the week on a positive note, the BSE concluded with a gain of 0.8%, underscoring the prevailing optimism and bullish sentiment pervading the market landscape.

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BSE Index Hits Record High, Gaining 1.7% Amid Economic Optimism

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