The Indian stock market continues its upward momentum, with the benchmark Sensex rising nearly 2,000 points in the past six trading sessions, marking its longest winning streak since April this year.
On Thursday, the Sensex climbed almost 400 points (0.5%), extending its positive run. The index now stands just 5% below its all-time high of 85,978.25, recorded on September 27, 2024.
The Nifty 50 also remains strong, though still 5% off its record peak of 26,277.35, achieved on the same day last year.
What’s Driving the Rally?
Analysts attribute the latest surge to:
- Proposed GST reforms, expected to boost compliance and consumption.
- A recent S&P credit outlook upgrade, enhancing investor confidence.
- Broad-based buying across banking, IT, and auto stocks.
Outlook
With improved domestic sentiment and strong global cues, experts believe the Sensex could test new highs in the coming weeks. However, volatility may persist ahead of key macroeconomic data releases and global market developments.
