The near-term uptrend of the Nifty remains intact, with the possibility of range-bound action or a minor dip in the next 1-2 sessions. (AI image)

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Thursday to hit new lifetime highs. While BSE Sensex crossed 85,900, Nifty50 touched 26,250. BSE Sensex closed the day at 85,836.12, up 666 points or 0.78%. Nifty50 ended the day at 26,216.05, up 212 points or 0.81%. The stock markets were boosted by gains in IT and auto companies.
The top BSE Sensex gainers were; Maruti Suzuki, Tata Motors, M&M, Bajaj Finserv, Tata Steel and JSW Steel.The top BSE Sensex losers were L&T and NTPC.
“Markets made a new all-time high for the sixth consecutive session supported by positive global cues and strong domestic flows on Wednesday. We expect the Nifty to continue its upwards journey, amid monthly derivative expiry on Thursday which may induce some volatility,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
The near-term uptrend of the Nifty remains intact, with the possibility of range-bound action or a minor dip in the next 1-2 sessions. The immediate resistance level is around 26,250, while support is at 25,800, according to Nagaraj Shetti of HDFC Securities.
Global stock markets experienced a significant boost on Thursday following reports that China is planning to invest billions of dollars to support the economy and recapitalize state-owned banks. The slowdown in China’s economy has had a negative impact on global trade and growth, but the recent announcements of stimulus measures from Beijing have lifted markets this week.
In Europe, Germany’s DAX rose 1.3% to 19,162.92, while the CAC 40 in Paris gained 1.7% to reach 7,696.21. The FTSE 100 in London also saw an increase of 0.5%, closing at 8,310.73. U.S. stock futures followed suit, with the S&P 500 contract rising 0.8% and the Dow Jones Industrial Average contract gaining 0.5%.
Asian markets also experienced significant gains, with Hong Kong’s Hang Seng index jumping 4.2% to 19,924.58 and the Shanghai Composite index surging 3.6% to 3,000.95. In Japan, the Nikkei 225 advanced 2.8% to 38,925.63. South Korea’s Kospi jumped 2.9% to 2,671.57, driven by a 9.4% increase in SK Hynix shares after the semiconductor maker announced the launch of a new memory chip for artificial intelligence applications.