The BSE Sensex closed 120 points higher at 62,550 on Friday, recovering just enough to notch a flat reading on the week as the US Congress’s approval of the debt ceiling deal and dovish signals from Fed officials supported equity benchmark worldwide. Indian stocks also continued to benefit from the dovish outlook from the RBI as domestic inflation slows. Metallurgists led the gains in Mumbai, driven by a 2% jump for Tata Steel shares as hopes of stronger demand in China lifted base metal prices. Gains were also prevalent among major automobile producers, with Mahindra & Mahindra and Maruti Suzuki both advancing nearly 2%.
Historically, the SENSEX Stock Market Index reached an all time high of 63583.07 in December of 2022. SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on June of 2023.
The SENSEX Stock Market Index is expected to trade at 61227.37 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 57430.76 in 12 months time.